Research and Markets: The Insurance Industry in Qatar, Key Trends and Opportunities to 2017

Business Wire

DUBLIN--(BUSINESS WIRE)--

Research and Markets (http://www.researchandmarkets.com/research/jp5cnf/the_insurance) has announced the addition of the "The Insurance Industry in Qatar, Key Trends and Opportunities to 2017" report to their offering.

The Qatari insurance industry grew at a CAGR of 1.0% during the review period (2008-2012), due to weak demand for personal accident and health insurance and the emergence of takaful insurance. However, the industry is expected to register faster growth at a CAGR of 6.7% over the forecast period (2012-2017). Growth will be driven by projected infrastructure spending ahead of the 2022 FIFA World Cup and investment in non-oil sectors. Growth in the industry can be attributed to factors like the rise in the expatriate population, regulatory changes and the country's economic strength.

The size of the Qatari insurance industry is comparatively smaller than other countries in the Gulf region; the industry's penetration stood at 0.4% in 2012, significantly lower than the global average of 6.7%. This provides an opportunity for existing and new entrants to scale-up their businesses in the uninsured Qatari insurance industry.

The report provides in-depth industry analysis, information and insights into the insurance industry in Qatar, including:

- The Qatari insurance industry's growth prospects by insurance segments and categories

- The competitive landscape in the Qatari insurance industry

- The current trends and drivers of the Qatari insurance industry

- Challenges facing the Qatari insurance industry

- The detailed regulatory framework of the Qatari insurance industry

- A benchmarking section on the Qatari insurance industry in comparison to other countries in the Middle East region

Key Highlights

- The Qatari insurance industry grew at a CAGR of 1.0% during the review period, due to weak demand for personal accident and health insurance and the emergence of takaful insurance

- The size of the Qatari insurance industry is comparatively smaller than other countries in the Gulf region

- Third-party motor insurance, engineers' professional liability insurance and health insurance are compulsory in Qatar

- By the end of 2014, the entire population is expected to be covered under health insurance, providing the health insurance category with strong growth avenues, which will be ignited by lifestyle changes

- Construction activities are expected to increase in the country over the forecast period, as Qatar prepares to host the FIFA World Cup in 2022

- There are six leading insurance providers in Qatar; Qatar Insurance Company is the market leader with 43.5% market share, followed by Qatar General Insurance and Reinsurance (QGIRCO) with 18.7%

Key Topics Covered:

Executive Summary

Introduction

The Middle East Region Market Dynamics

Qatari Insurance Industry Overview

Non-Life Insurance

Personal Accident and Health Insurance

Reinsurance

Analysis by Distribution Channel

Governance, Risk and Compliance

Competitive Landscape

Economic Indicators

Appendix

List of Tables

List of Figures

For more information visit http://www.researchandmarkets.com/research/jp5cnf/the_insurance

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Sector: Insurance

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