2013-02-02 16:05:57 - Fast Market Research recommends "Qatar Insurance Report 2013" from Business Monitor International, now available

Key Insights And Key Risks

Once again, this Annual Report on Qatar's insurance sector highlights strengths and weaknesses. In contrast to most of its peers elsewhere in the Gulf Cooperation Council (GCC) and broader Middle East and North Africa (MENA) region, it is not fragmented. The five indigenous insurance companies (of which two are constituted as Takaful operators) are reasonably substantial by regional standards: indeed, Qatar Insurance Company (QIC) is the largest indigenous insurer in the GCC by some metrics. All are financially strong, highly rated and enjoy strong links to the Qatar government and the local establishment. All serve a variety of personal and corporate clients across numerous lines (although only the Takaful operators are composite insurers). The authorities have

overcome the challenges associated with the vagueness of the regulatory environment in which these companies operate. Many international insurance companies (and other financial institutions) take advantage of the regulatory regime of the Qatar Financial Centre: this permits them to offer their services both within Qatar itself and elsewhere. Although data is scant, it is reasonable to suggest that the international life companies that are operating in the country - Zurich International Life and MetLife Alico are benefiting from the growing number and wealth of expatriates in Qatar's booming economy.


Full Report Details at
- www.fastmr.com/prod/529467_qatar_insurance_report_2013.aspx


However, for all their advantages, the local insurance companies are not flourishing. Most achieved single digit growth in gross written premiums (our preferred performance metric) in H112 and the first three quarters of 2012. Although the details vary from company to company, problems include at least some of stagnant or falling net earned premiums, falling underwriting profits, falling or stagnant investment earnings and slipping net profits relative to the previous corresponding periods. The implication is that a fairly benign economic, regulatory and business environment is not really producing very strong growth by most metrics. BMI's forecasts for the development of the insurance sector over the next five years are reasonably upbeat: nevertheless, we still expect that non-life penetration (premiums as a percentage of GDP) will be well below all-time highs in 2017.

We think that the main problem is that the five local companies lack pricing power, notwithstanding their commercial and establishment links. Both QIC and the smaller Qatar General Insurance & Reinsurance (QGIR) Company are actively seeking opportunities elsewhere in the region. One positive wildcard though, are the (currently) draft laws that mandate compulsory health insurance. The experience of other countries in the region suggests that this could provide a substantial boost to both non-life and life insurance in Qatar.

Report Table of Contents:

Executive Summary
- Table: Total Premiums 2010-2017
- Key Insights And Key Risks
SWOT Analysis
- Qatar Insurance Industry SWOT
- Qatar Political SWOT
- Qatar Economic SWOT
- Qatar Business Environment SWOT
Life Sector Overview
- Middle East And North Africa Life Sector Overview
- Table: Middle East And North Africa's Life Premiums, 2010-2017 (US$mn)
- Qatar Life Sector Update
Life Industry Forecast Scenario
- Table: Total Life Premiums 2010-2017
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics 2010-2017
Non-Life Sector Overview
- Middle East And North Africa Non-Life Sector Overview
- Table: Middle East And North Africa's Non-Life Premiums, 2010-2017 (US$mn)
- Qatar Non-Life Sector Update
Non- Life Industry Forecast Scenario
- Table: Total Non-Life Premiums 2010-2017
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Qatar - GDP By Expenditure, US$ Terms Breakdown, 2008-2016
- Table: Macroeconomic Data And Forecasts 2010-2017
- Political Stability Outlook
- Healthcare
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017
- Motor
- Islamic Finance
Insurance Risk/Reward Ratings
- Table: Qatar's Insurance Risk/Reward Ratings
- Table: Middle East and Africa Insurance Risk/Reward Ratings
Competitive Landscape
- Major Players In Qatar's Insurance Sector
Company Profiles
- American International Group (AIG)
- Al Khaleej Takaful Co. QSC
- Allianz
- AXA
- Doha Insurance Co. QSC
- MedGulf
- MetLife Alico
- Qatar General Insurance & Reinsurance Co. QSC
- Qatar Insurance Company SAQ
- Qatar Islamic Insurance Co. QSC
- Zurich Insurance Group
Country Snapshot
- Table: Qatar's Population By Age Group, 1990-2020 ('000)
- Table: Qatar's Population By Age Group, 1990-2020 (% of total)
- Table: Qatar's Key Population Ratios, 1990-2020
- Table: Qatar's Rural And Urban Population, 1990-2020
BMI Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.