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FINANCIAL NEWS
Insurance payments in Qatar reach USD3bn
08 Mar 2017
(MENAFN) Annual Insurance premiums in Qatar have reached USD3bn, whereas the sector account for 1.5 percent of the country’s GDP.
With insurance penetration lower than global average, there is huge potential for growth for insurance firms in Qatar and MENA region.
Accordingly, the Mena insurance markets continue to increase faster than the underlying economies, while the region’s insurance markets benefit from the expansion of compulsory schemes.
Meanwhile, at 15 percent of total premiums, life business continues to play a minor role in USD54bn Mena insurance markets, against its average global share of 56 percent.
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MENAFN0803201700450000ID1095298755
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