The Qatari insurance market

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Photo credit: US Gov / CIA World Factbook

Insurance market features

  • Regulatory authority: Ministry of Economy and Commerce - Department of Commercial Affairs
  • Premiums (2003): 244 million USD
  • Insurance density (2003): 290 USD
  • Penetration rate (2003): 1.4%

2003 market structure

  • Qatari insurance companies: 5
  • Foreign agencies: 4

Identity

  • Area: 11 437 Km2
  • Population (est. 2004):
    840 290 inhabitants
  • GDP (2003): 17.54 billion USD
  • GDP per capita (2003):
    20 870 USD
  • GDP growth rate (2003): 8.5%
  • Inflation rate (2003): 2.3%
  • Main economic sectors: Oil (more than 55% of GDP), natural gas, petrochemical industry, tourism

Major cities

(in number of inhabitants)
  • Doha (capital): 400 000
  • Ar Rayyan : 170 000
  • Wakrah: 34 000
  • Umm Salal: 19 500
 

Turnover evolution: 1999-2003

in thousands USD
 19992000200120022003
Premiums
135 734119 777141 146205 850244 326

Gross premiums split by company: 2002-2003

in thousands USD
 20032002
 Amount%Amount%
National companies
Qatar Insurance Company
111 68945.71%94 54745.93%
Qatar General Insurance & Reinsurance Co.
77 59631.76%64 62331.39%
Qatar Islamic Insurance Co.
15 8276.48%13 1516.39%
Al Khaleej Insurance Co.
15 4476.32%13 8006.70%
Doha Insurance Co.
12 0734.94%9 4194.58%
National companies' total
232 632 95.21% 195 540 94.99%
Foreign agencies
Libano-Suisse Insurance Co
4 5061.84%2 4781.20%
Egypt National Insurance Co.
3 6821.52%2 8681.39%
Arabia Insurance Co
3 5061.43%2 9401.43%
Atlas Insurance Co.
00.00%2 0240.99%
Foreign agencies' total
11 694
4.79%
10 310
5.01%
Grand total
244 326
100%
205 850
100%

Paid claims split by company: 2002-2003

in thousands USD
 20032002
 Amount%Amount%
National companies
Qatar Insurance Co.
58 61653.73%30 23844.54%
Qatar General Insurance & Reinsurance Co.
21 71319.91%16 45724.24%
Al Khaleej Insurance Co.
9 7938.98%4 2336.24%
Qatar Islamic Insurance Co.
7 1526.56%6 2799.25%
Doha Insurance Co.
4 9084.50%3 5995.30%
National companies' total
102 182 93.68% 60 806 89.57%
Agences étrangères
Libano-Suisse Insurance Co
3 3463.07%2 1593.18%
Egypt National Insurance Co.
1 9911.83%2 2223.28%
Arabia Insurance Co.
1 5471.42%1 9122.82%
Atlas Insurance Co.
00.00%7841.15%
Foreign agencies' total
6 884 6.32% 7 077 10.43%
Grand total
109 066100%67 883100%

Split by company in 2003

Gross premiums
 
Paid claims

Premiums split by class of business in 2003

in thousands USD
 20032002
Class of business
Amount%Amount%
Marine
39 82016.30%30 63414.88%
Motor
57 66523.60%57 18427.78%
Fire
44 44818.19%35 79817.39%
Workmen's compensation
3 6441.49%3 3251.62%
Energy & property
98 74940.42%78 90938.33%
Total
244 326 100% 205 850 100%

Premiums split by class of business in 2003

Gross premiums split by company and by class of business in 2003

in thousands USD
 MarineMotorFireWorkmen's compensationEnergy & propertyTotal
Qatar Insurance Co.
30 37914 32730 2451 72935 009111 689
Qatar Insurance & Reinsurance Co.
4 19417 9175 869049 61677 596
Al Khaleej Insurance Co.
1 7645 6102 4805395 05415 447
Qatar Islamic Insurance Co.
9408 3061 5864064 58915 827
Doha Insurance Co.
8764 1982 9924683 53912 073
Arabia Insurance company
6491 9003512483583 506
Libano-Suisse SAL Insurance
6032 5677261314794 506
National Insurance of Egypt
4152 8401991231053 682
Grand total
39 820 57 665 44 448 3 644 98 749 244 326
Exchange rate
USD/QAR as at 31/12
2000
2001
2002
2003
3.535
3.658
3.637
3.641
0
Your rating: None
Tue, 14/05/2013 - 11:44
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