Qatar takaful insurance market in 2021

According to a report by Bait Al Mashura Financial Consulting Company, the five national takaful insurance companies recorded a 7.4% increase in their overall turnover to 1.4 billion QAR (382.4 million USD) in 2021.

At the end of 2021, Qatar Islamic Insurance Company (QIIG), Alkhaleej Takaful Insurance Company, Damaan Islamic Insurance (Beema), General Takaful Company and Doha Takaful Company posted a technical result of 113 million QAR (30.9 million USD), which is down by 24% compared to 2020.

It is worth noting that the Qatar insurance market consists of five local takaful insurance companies and four foreign conventional insurance subsidiaries, namely MedGulf Allianz Takaful, T'azur Company, Takaful International Company and SEIB Insurance and Reinsurance Company.