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Non-Life Insurance in Qatar, Key Trends and Opportunities to 2019

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Date: 29-Feb-2016
No. of pages: 95
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Synopsis

Timetric's 'Non-Life Insurance in Qatar, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Qatari non-life insurance segment, and a comparison of the Qatari insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010-2014) and forecast period (2014-2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Qatari economy and demographics, explains the various types of natural hazard and their impact on the Qatari insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's ' Non-Life Insurance in Qatar, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Qatari non-life insurance segment, including:


  • The Qatari non-life insurance segment's detailed outlook by product category

  • A comprehensive overview of the Qatari economy and demographics

  • A comparison of the Qatari insurance industry with its regional counterparts

  • The various distribution channels in the Qatari non-life insurance segment

  • Detailed analysis of natural hazards and their impact on the Qatari insurance industry

  • Details of the competitive landscape in the life insurance segment in Qatar

  • Details of regulatory policy applicable to the Qatari insurance industry


Scope

This report provides a comprehensive analysis of the non-life insurance segment in Qatar:


  • It provides historical values for the Qatari non-life insurance segment for the report's 2010-2014 review period, and projected figures for the 2014-2019 forecast period.

  • It offers a detailed analysis of the key categories in the Qatari non-life insurance segment, and market forecasts to 2019.

  • It profiles the top non-life insurance companies in Qatar, and outlines the key regulations affecting them.


Reasons To Buy


  • Make strategic business decisions using in-depth historic and forecast market data related to the Qatari non-life insurance segment, and each category within it.

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Qatari non-life insurance segment.

  • Assess the competitive dynamics in the non-life insurance segment.

  • Identify growth opportunities and market dynamics in key product categories.

  • Gain insights into key regulations governing the Qatari insurance industry, and their impact on companies and the industry's future.


Key Highlights


  • The Qatari non-life insurance gross written premium increased at a review-period CAGR of 33.6%.

  • In terms of real GDP, Qatar's annual growth increased from 6.2% in 2014 to 7.1% in 2015, driven by its oil and gas, petrochemicals, steel and fertilizer industries.

  • In March 2015, the MoI signed an agreement with the heads of motor insurers in Qatar to improve efficiency and accelerate the processing of reports of all accidents involving damage.

  • In 2013, the Qatari government revealed its plans to generate growth by investing in its non-oil sectors. This is expected to support the property insurance category in particular.

  • Direct marketing and agencies together accounted for 90.2% of the non-life direct written premium in 2014.

Non-Life Insurance in Qatar, Key Trends and Opportunities to 2019

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments

5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Marine, Aviation and Transit Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability

6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Direct marketing
6.1.2 Agencies
6.1.3 Brokers
6.1.4 E-Commerce

7 Natural Hazards

8 Competitive Landscape
8.1 Company Rankings
8.2 Comparison of the Top Five Insurers
8.2.1 Gross written premium
8.3 Company Profiles
8.3.1 Qatar Insurance Company
8.3.2 Qatar General Insurance and Reinsurance Company SAQ
8.3.3 Doha Insurance Company QSC
8.3.4 Qatar Islamic Insurance Company

9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Health insurance
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Qatar Financial Centre Regulatory Authority
9.5.3 Qatar central Bank
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)

10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Property Insurance
10.7 Property Insurance by Product
10.8 Motor Insurance
10.9 Marine, Aviation and Transit Insurance

11 Definitions and Methodology
11.1 Definitions
11.2 Methodology

12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables

Table 1: Qatari Non-Life Insurance - Key Facts, 2014
Table 2: Qatari Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Qatari Government Credit Ratings
Table 4: Qatari Non-Life Insurance - Gross Written Premium (QAR Billion and US$ Billion), 2010-2014
Table 5: Qatari Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Qatari Non-Life Insurance - Gross Written Premium (QAR Billion and US$ Billion), 2014-2019
Table 7: Qatari Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Qatari Non-Life Insurance - Premium per Capita (QAR and US$), 2010-2014
Table 9: Qatari Non-Life Insurance - Premium per Capita (QAR and US$), 2014-2019
Table 10: Qatari Non-Life Insurance - Paid Claims (QAR Billion and US$ Billion), 2010-2014
Table 11: Qatari Non-Life Insurance - Paid Claims (QAR Billion and US$ Billion), 2014-2019
Table 12: Qatari Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Qatari Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Qatari Non-Life Insurance - Total Assets (QAR Billion and US$ Billion), 2010-2014
Table 15: Qatari Non-Life Insurance - Total Assets (QAR Billion and US$ Billion), 2014-2019
Table 16: Qatari Non-Life Insurance - Total Investment Income (QAR Billion and US$ Million), 2010-2014
Table 17: Qatari Non-Life Insurance - Total Investment Income (QAR Billion and US$ Million), 2014-2019
Table 18: Qatari Non-Life Insurance - Investment Portfolio (QAR Billion), 2010-2014
Table 19: Qatari Non-Life Insurance - Investment Portfolio (QAR Billion), 2014-2019
Table 20: Qatari Non-Life Insurance - Gross Written Premium by Category (QAR Billion), 2010-2014
Table 21: Qatari Non-Life Insurance - Gross Written Premium by Category (QAR Billion), 2014-2019
Table 22: Qatari Property Insurance - Gross Written Premium by Sub-Category (QAR Billion), 2010-2014
Table 23: Qatari Property Insurance - Gross Written Premium by Sub-Category (QAR Billion), 2014-2019
Table 24: Qatari Property Insurance - Paid Claims (QAR Million and US$ Million), 2010-2014
Table 25: Qatari Property Insurance - Paid Claims (QAR Billion and US$ Million), 2014-2019
Table 26: Qatari Property Insurance - Loss Ratio (%), 2010-2014
Table 27: Qatari Property Insurance - Loss Ratio (%), 2014-2019
Table 28: Qatari Motor Insurance - Gross Written Premium by Sub-Category (QAR Million), 2010-2014
Table 29: Qatari Motor Insurance - Gross Written Premium by Sub-Category (QAR Million), 2014-2019
Table 30: Qatari Motor Insurance - Paid Claims (QAR Million and US$ Million), 2010-2014
Table 31: Qatari Motor Insurance - Paid Claims (QAR Million and US$ Million), 2014-2019
Table 32: Qatari Motor Insurance - Loss Ratio (%), 2010-2014
Table 33: Qatari Motor Insurance - Loss Ratio (%), 2014-2019
Table 34: Qatari Transport Network - Global Rankings (2013)
Table 35: Qatari Marine, Aviation and Transit Insurance - Gross Written Premium (QAR Million), 2010-2014
Table 36: Qatari Marine, Aviation and Transit Insurance - Gross Written Premium (QAR Billion), 2014-2019
Table 37: Qatari Marine, Aviation and Transit Insurance - Paid Claims (QAR Million and US$ Million), 2010-2014
Table 38: Qatari Marine, Aviation and Transit Insurance - Paid Claims (QAR Million and US$ Million), 2014-2019
Table 39: Qatari Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 40: Qatari Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 41: Qatari Non-Life Insurance - Direct Written Premium by Distribution Channel (QAR Billion), 2010-2014
Table 42: Qatari Non-Life Insurance - Direct Written Premium by Distribution Channel (QAR Billion), 2014-2019
Table 43: Qatari Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
Table 44: Shares of Key Insurers in the Qatari Non-Life Segment (%), 2014
Table 45: Qatar Insurance Company SAQ - Key Facts
Table 46: Qatar Insurance Company SAQ - Key Financials (QAR Million), 2010-2014
Table 47: Qatar General Insurance and Reinsurance Company SAQ - Key Facts
Table 48: Qatar General Insurance and Reinsurance Company SAQ - Key Financials (QAR Million), 2010-2014
Table 49: Doha Insurance Company QSC - Key Facts
Table 50: Doha Insurance Company QSC - Key Financials (QAR Million), 2009-2013
Table 51: Qatar Islamic Insurance Company - Key Facts
Table 52: Qatar Islamic Insurance Company - Key Financials (QAR Million), 2010-2014
Table 53: Qatar - Insurance Regulatory Framework Key Features
Table 54: Qatar - Life Insurance Regulatory Framework
Table 55: Qatar - Property Insurance Regulatory Framework
Table 56: Qatar - Motor Insurance Regulatory Framework
Table 57: Qatar - Liability Insurance Regulatory Framework
Table 58: Qatar - Corporate Tax Rates for the Financial Year 2015
Table 59: Qatari Insurance Industry - Policies and Premium, 2010-2014
Table 60: Qatari Insurance Industry - Policies and Premium, 2014-2019
Table 61: Qatari Non-Life Insurance - Claims and Expenses, 2010-2014
Table 62: Qatari Non-Life Insurance - Claims and Expenses, 2014-2019
Table 63: Qatari Non-Life Insurance - Assets and Investments, 2010-2014
Table 64: Qatari Non-Life Insurance - Assets and Investments, 2014-2019
Table 65: Qatari Non-Life Insurance - Direct Marketing and E-Commerce, 2010-2014
Table 66: Qatari Non-Life Insurance - Direct Marketing and E-Commerce, 2014-2019
Table 67: Qatari Non-Life Insurance - Insurance Brokers and Agencies, 2010-2014
Table 68: Qatari Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019
Table 69: Qatari Non-Life Insurance - Property Insurance, 2010-2014
Table 70: Qatari Non-Life Insurance - Property Insurance, 2014-2019
Table 71: Qatari Non-Life Insurance - Property Insurance by Product, 2010-2014
Table 72: Qatari Non-Life Insurance - Property Insurance by Product, 2014-2019
Table 73: Qatari Non-Life Insurance - Motor Insurance, 2010-2014
Table 74: Qatari Non-Life Insurance - Motor Insurance, 2014-2019
Table 75: Qatari Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
Table 76: Qatari Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
Table 77: Insurance Industry Definitions

List of Figures

Figure 1: Qatari Real GDP (QAR Billion), 2010-2019
Figure 2: QAR-US$ Exchange Rate, 2010-2019
Figure 3: Qatari Consumer Price Inflation, 2010-2019
Figure 4: Qatari Current Account Balance as Percentage of GDP (%), 2010-2014
Figure 5: Qatari Unemployment Rate, 2010-2019
Figure 6: Qatari Population by Age Group, 1991-2025
Figure 7: Qatari Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Qatari Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Qatari Non-Life Insurance - Gross Written Premium (QAR Billion), 2010-2019
Figure 10: Qatari Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Qatari Non-Life Insurance - Premium per Capita (QAR), 2010-2019
Figure 12: Qatari Non-Life Insurance - Paid Claims (QAR Billion), 2010-2019
Figure 13: Qatari Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Qatari Non-Life Insurance - Total Assets (QAR Billion), 2010-2019
Figure 15: Qatari Non-Life Insurance - Total Investment Income (QAR Billion), 2010-2019
Figure 16: Qatari Non-Life Insurance - Investment Portfolio (QAR Billion), 2010-2019
Figure 17: Qatari Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 18: Qatari Non-Life Insurance - Gross Written Premium by Category (QAR Billion), 2010-2019
Figure 19: Qatari Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 20: Qatari Property Insurance - Construction Value Output by Category (QAR Billion), 2010-2014
Figure 21: Qatari Property Insurance - Gross Written Premium by Sub-Category (QAR Billion), 2010-2019
Figure 22: Qatari Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 23: Qatari Property Insurance - Paid Claims (QAR Billion), 2010-2019
Figure 24: Qatari Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (QAR Billion and %), 2010-2019
Figure 25: Qatar - Total Vehicle Sales, 2010-2014
Figure 26: Qatari Motor Insurance - Gross Written Premium by Sub-Category (QAR Million), 2010-2019
Figure 27: Qatari Motor Insurance - Paid Claims (QAR Million), 2010-2019
Figure 28: Qatari Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (QAR Billion and %), 2010-2019
Figure 29: Qatari Goods Exports and Imports (QAR Billion), 2010-2014
Figure 30: Qatari Marine, Aviation and Transit Insurance - Gross Written Premium (QAR Million), 2010-2019
Figure 31: Qatari Marine, Aviation and Transit Insurance - Paid Claims (QAR Million), 2010-2019
Figure 32: Qatari Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (QAR Billion and %), 2010-2019
Figure 33: Qatari Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 34: Shares of Key Insurers in the Qatari Non-Life Segment (%), 2014
Figure 35: Qatari Non-Life Insurance - Top Insurers' Gross Written Premium Growth Relative to Segment Overall (%), 2010-2014
Figure 36: Qatar - Insurance Supervision and Control at Various Levels
Figure 37: Qatar - Insurance Regulatory Frameworks for Company Registration and Operation

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