Doha Insurance (QSC)

Established in 2000, Doha Insurance has quickly become one of the most active companies of the emirate. Listed on the stock market, Doha Insurance has managed to settle in a market dominated by traditional insurers: Qatar Insurance and Qatar General.

Thanks to an initial excellent share capital, the company soon got positioned on the market niche of fire and damage to property risks which, for the time being, account for more than 50% of its turnover.

An average loss ratio of 56% in the last five years has enabled Doha Insurance to reap substantial profits and consolidate its technical bases.

By the standard of the Gulf States, Doha Insurance is a medium-sized company on a promising market which the local authorities strive to turn into a hub for Middle Eastern insurance. The energy potential of Qatar, gas and oil, is an enabling factor.

Sh. Nawaf Bin Nasser Bin Khaled Al-Thani	Adel Ali Bin Ali
Chairman	Managing director

Main technical highlights: 2005-2009

in USD

	2005	2006	2007	2008	2009
Gross written premiums	35 949 071	55 400 987	69 206 040	86 670 325	86 868 457
Written premiums net of reinsurance	9 312 526	15 114 691	17 936 172	22 935 629	24 570 672
Net earned premiums	8 087 080	13 006 556	16 475 787	20 997 472	23 941 992
Net incurred losses	4 966 187	7 951 655	9 108 220	11 363 125	11 382 179
Net loss ratio	61.4%	61.1%	55.3%	54.1%	47.5%
Management expenses 1	5 611 436	6 550 850	6 977 232	11 605 105	11 876 826
Net results	11 585 895	7 398 374	12 139 477	12 932 431	14 292 295

¹ Overhead expenses + commissions

Evolution of premiums, losses, management expenses and results

in thousands USD

Turnover's evolution per insurance market: 2005-2009

in USD

Insurance	2005	2006	2007	2008	2009	2009 shares	2008/09 growth
Conventional	35 949 071	55 048 148	68 653 348	86 036 863	81 539 599	93.9%	-5.2%
Takaful	-	352 839	552 692	633 462	5 328 858	6.1%	741.2%
Total	35 949 071	55 400 987	69 206 040	86 670 325	86 868 457	100%	0.2%

Turnover's evolution per class of business: 2005-2009

in USD

	2005	2006	2007	2008	2009	2009 shares	2008/09 growth
Fire & accident	16 899 796	29 514 851	39 352 567	46 634 706	44 317 382	51%	-5%
Marine	11 783 475	15 502 951	16 030 219	22 557 731	23 744 348	27.3%	5.3%
Motor	7 265 801	10 383 184	13 823 253	17 477 889	18 806 726	21.7%	7.6%
Total	35 949 071	55 400 987	69 206 040	86 670 325	86 868 457	100%	0.2%

Breakdown per class of business in 2009

Ratios' evolution: 2005-2009

¹ Management expenses on gross written premiums

Exchange rate QAR/USD as at 31/12	2005	2006	2007	2008	2009
	0.27482	0.27489	0.27546	0.27487	0.27475