Personal Accident and Health Insurance in Qatar, Key Trends and Opportunities to 2019

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Date: 29-Feb-2016
No. of pages: 93
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Synopsis

Timetric's 'Personal Accident and Health Insurance in Qatar, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers, challenges in the Qatari personal accident and health insurance segment.

It provides 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, 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 ' Personal Accident and Health Insurance in Qatar, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Qatari personal accident and health insurance segment, including:


  • The Qatari personal accident and health insurance segment's growth prospects by insurance category

  • Key trends, drivers and challenges for the personal accident and health insurance segment

  • A comprehensive overview of the Qatari economy and demographics

  • The various distribution channels in the Qatari personal accident and health insurance segment

  • Details of the competitive landscape in the personal accident and health insurance segment in Qatar

  • Details of regulatory policy applicable to the Qatari insurance industry


Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Qatar:


  • It provides historical values for the Qatari personal accident and health 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 personal accident and health insurance segment, and market forecasts to 2019.

  • It profiles the top personal accident and health 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 personal accident and health insurance segment, and each category within it.

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Qatari personal accident and health insurance segment.

  • Assess the competitive dynamics in the personal accident and health 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


  • Personal accident and health was the smallest segment in the Qatari insurance industry, accounting for 8.0% of the industry's gross written premium in 2014.

  • Health insurance is compulsory in Qatar. The entire population is expected to be covered by health insurance by the end of 2016, providing the category with strong growth avenues, supported by lifestyle changes.

  • Personal accident and health insurance penetration was lower in Qatar than in other GCC countries such as the UAE (0.71%) and Saudi Arabia (0.56%).

  • The presence of takaful insurance in a Muslim-dominated population is a key challenge for conventional insurance. Conventional insurance products are incompatible with Sharia law, and as more than 75% of Qatar's population is Muslim, the growth of takaful insurance is therefore expected to continue over the forecast period.

  • The Qatari personal accident and health insurance segment has growth potential and will be driven by favorable demographic factors such as rise in the working population and life expectancy.

Personal Accident and Health Insurance in Qatar, Key Trends and Opportunities to 2019

Table of Contents

1 Key Facts and Highlights

2 Executive Summary

3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Economy and Demographics

5 Personal Accident and Health Insurance Segment Outlook
5.1 Key Drivers
5.2 Key Trends
5.3 Challenges
5.4 Personal Accident and Health Insurance Growth Prospects by Category
5.4.1 Personal accident insurance

6 Analysis by Distribution Channel
6.1 Direct Marketing
6.2 Agencies
6.3 Brokers

7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the Qatari Personal Accident and Health Insurance Segment
7.2.1 Qatar Insurance Company SAQ - company overview
7.2.2 Qatar General Insurance and Reinsurance Company SAQ - company overview
7.2.3 Doha Insurance Company QSC - company overview
7.2.4 Qatar Islamic Insurance Company - company overview

8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulations
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Health insurance
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 Qatar Financial Centre Regulatory Authority
8.5.3 Qatar central Bank
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and penalties
8.7 Company Registration and Operations
8.7.1 Types of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margins
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Fee structure
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)

9 Appendix
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables

Table 1: Qatari Personal Accident and Health Insurance - Key Facts, 2014
Table 2: Insurance Industry Definitions
Table 3: Qatari Government Credit Ratings
Table 4: Qatari Personal Accident and Health Insurance - Gross Written Premium (QAR Million), 2010-2014
Table 5: Qatari Personal Accident and Health Insurance - Gross Written Premium (QAR Million), 2014-2019
Table 6: Qatari Personal Accident and Health Insurance - Direct Written Premium (QAR Million), 2010-2014
Table 7: Qatari Personal Accident and Health Insurance - Direct Written Premium (QAR Million), 2014-2019
Table 8: Qatari Personal Accident and Health Insurance - Net Earned Premium (QAR Million), 2010-2014
Table 9: Qatari Personal Accident and Health Insurance - Net Earned Premium (QAR Million), 2014-2019
Table 10: Qatari Personal Accident and Health Insurance - Paid Claims (QAR Million), 2010-2014
Table 11: Qatari Personal Accident and Health Insurance - Paid Claims (QAR Million), 2014-2019
Table 12: Qatari Personal Accident and Health Insurance - Incurred Loss (QAR Million), 2010-2014
Table 13: Qatari Personal Accident and Health Insurance - Incurred Loss (QAR Million), 2014-2019
Table 14: Qatari Personal Accident and Health Insurance - Net Written Premium (QAR Million), 2010-2014
Table 15: Qatari Personal Accident and Health Insurance - Net Written Premium (QAR Million), 2014-2019
Table 16: Qatari Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Table 17: Qatari Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Table 18: Qatari Personal Accident and Health Insurance - Commission and Expenses (QAR Million), 2010-2014
Table 19: Qatari Personal Accident and Health Insurance - Commission and Expenses (QAR Million), 2014-2019
Table 20: Qatari Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Table 21: Qatari Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Table 22: Qatari Personal Accident and Health Insurance - Total Assets (QAR Billion), 2010-2014
Table 23: Qatari Personal Accident and Health Insurance - Total Assets (QAR Billion), 2014-2019
Table 24: Qatari Personal Accident and Health Insurance - Total Investment Income (QAR Million), 2010-2014
Table 25: Qatari Personal Accident and Health Insurance - Total Investment Income (QAR Million), 2014-2019
Table 26: Qatari Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Table 27: Qatari Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Table 28: Qatari Personal Accident Insurance - Direct Written Premium (QAR Million), 2010-2014
Table 29: Qatari Personal Accident Insurance - Direct Written Premium (QAR Million), 2014-2019
Table 30: Qatari Personal Accident Insurance - Loss Ratio (%), 2010-2014
Table 31: Qatari Personal Accident Insurance - Loss Ratio (%), 2014-2019
Table 32: Qatari Personal Accident and Health Insurance - Direct Marketing Value of Commission (QAR Million), 2010-2014
Table 33: Qatari Personal Accident and Health Insurance - Direct Marketing Value of Commission (QAR Million), 2014-2019
Table 34: Qatari Personal Accident and Health Insurance - Direct Marketing Direct Written Premium (QAR Million), 2010-2014
Table 35: Qatari Personal Accident and Health Insurance - Direct Marketing Direct Written Premium (QAR Million), 2014-2019
Table 36: Qatari Personal Accident and Health Insurance - Agencies' Value of Commission (QAR Million), 2010-2014
Table 37: Qatari Personal Accident and Health Insurance - Agencies' Value of Commission (QAR Million), 2014-2019
Table 38: Qatari Personal Accident and Health Insurance - Agencies' Direct Written Premium (QAR Million), 2010-2014
Table 39: Qatari Personal Accident and Health Insurance - Agencies' Direct Written Premium (QAR Million), 2014-2019
Table 40: Qatari Personal Accident and Health Insurance - Brokers' Value of Commission (QAR Million), 2010-2014
Table 41: Qatari Personal Accident and Health Insurance - Brokers' Value of Commission (QAR Million), 2014-2019
Table 42: Qatari Personal Accident and Health Insurance - Brokers' Direct Written Premium (QAR Million), 2010-2014
Table 43: Qatari Personal Accident and Health Insurance - Brokers' Direct Written Premium (QAR Million), 2014-2019
Table 44: Qatari Personal Accident and Health Insurance Companies
Table 45: Qatar Insurance Company SAQ - Key Facts
Table 46: Qatar General Insurance and Reinsurance Company SAQ - Key Facts
Table 47: Doha Insurance Company QSC - Key Facts
Table 48: Qatar Islamic Insurance Company - Key Facts
Table 49: Qatar - Insurance Regulatory Framework Key Features
Table 50: Qatar - Life Insurance Regulatory Framework
Table 51: Qatar - Property Insurance Regulatory Framework
Table 52: Qatar - Motor Insurance Regulatory Framework
Table 53: Qatar - Liability Insurance Regulatory Framework
Table 54: Qatar - Corporate Tax Rates for the Financial Year 2015

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 (%), 2010-2019
Figure 5: Qatari Unemployment Rate, 2010-2019
Figure 6: Qatari Population by Age Group, 1991-2025
Figure 7: Qatari Personal Accident Insurance - Gross Written Premium (QAR Million), 2010-2014
Figure 8: Qatari Personal Accident and Health Insurance - Gross Written Premium (QAR Million), 2014-2019
Figure 9: Qatari Personal Accident and Health Insurance - Direct Written Premium (QAR Million), 2010-2014
Figure 10: Qatari Personal Accident and Health Insurance - Direct Written Premium (QAR Million), 2014-2019
Figure 11: Qatari Personal Accident and Health Insurance - Net Earned Premium (QAR Million), 2010-2014
Figure 12: Qatari Personal Accident and Health Insurance - Net Earned Premium (QAR Million), 2014-2019
Figure 13: Qatari Personal Accident and Health Insurance - Paid Claims (QAR Million), 2010-2014
Figure 14: Qatari Personal Accident and Health Insurance - Paid Claims (QAR Million), 2014-2019
Figure 15: Qatari Personal Accident and Health Insurance - Incurred Loss (QAR Million), 2010-2014
Figure 16: Qatari Personal Accident and Health Insurance - Incurred Loss (QAR Million), 2014-2019
Figure 17: Qatari Personal Accident and Health Insurance - Net Written Premium (QAR Million), 2010-2014
Figure 18: Qatari Personal Accident and Health Insurance - Net Written Premium (QAR Million), 2014-2019
Figure 19: Qatari Personal Accident and Health Insurance - Loss Ratio (%), 2010-2014
Figure 20: Qatari Personal Accident and Health Insurance - Loss Ratio (%), 2014-2019
Figure 21: Qatari Personal Accident and Health Insurance - Commission and Expenses (QAR Million), 2010-2014
Figure 22: Qatari Personal Accident and Health Insurance - Commission and Expenses (QAR Million), 2014-2019
Figure 23: Qatari Personal Accident and Health Insurance - Combined Ratio (%), 2010-2014
Figure 24: Qatari Personal Accident and Health Insurance - Combined Ratio (%), 2014-2019
Figure 25: Qatari Personal Accident and Health Insurance - Total Assets (QAR Billion), 2010-2014
Figure 26: Qatari Personal Accident and Health Insurance - Total Assets (QAR Billion), 2014-2019
Figure 27: Qatari Personal Accident and Health Insurance - Total Investment Income (QAR Million), 2010-2014
Figure 28: Qatari Personal Accident and Health Insurance - Total Investment Income (QAR Million), 2014-2019
Figure 29: Qatari Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2010-2014
Figure 30: Qatari Personal Accident and Health Insurance - Net Written Premium (% of GWP), 2014-2019
Figure 31: Qatari Personal Accident and Health Insurance - Investment Portfolio (QAR Billion), 2010-2014
Figure 32: Qatari Personal Accident and Health Insurance - Investment Portfolio (% Share), 2010 and 2014
Figure 33: Qatari Personal Accident and Health Insurance Penetration (Ratio of Direct Premiums to GDP), 2010-2014
Figure 34: Qatari Personal Accident and Health Insurance - Density (Direct Premium per Capita), 2010-2014
Figure 35: Qatari Personal Accident Insurance - Direct Written Premium (QAR Million), 2010-2014
Figure 36: Qatari Personal Accident Insurance - Direct Written Premium (QAR Million), 2014-2019
Figure 37: Qatari Personal Accident Insurance - Loss Ratio (%), 2010-2014
Figure 38: Qatari Personal Accident Insurance - Loss Ratio (%), 2014-2019
Figure 39: Qatari Personal Accident and Health Insurance - Gross Written Premium by Distribution Channel (% Share), 2014 and 2019
Figure 40: Qatari Personal Accident and Health Insurance - Direct Marketing Value of Commission (QAR Million), 2010-2014
Figure 41: Qatari Personal Accident and Health Insurance - Direct Marketing Value of Commission (QAR Million), 2014-2019
Figure 42: Qatari Personal Accident and Health Insurance - Direct Marketing Direct Written Premium (QAR Million), 2010-2014
Figure 43: Qatari Personal Accident and Health Insurance - Direct Marketing Direct Written Premium (QAR Million), 2014-2019
Figure 44: Qatari Personal Accident and Health Insurance - Agencies' Value of Commission (QAR Million), 2010-2014
Figure 45: Qatari Personal Accident and Health Insurance - Agencies' Value of Commission (QAR Million), 2014-2019
Figure 46: Qatari Personal Accident and Health Insurance - Agencies' Direct Written Premium (QAR Million), 2010-2014
Figure 47: Qatari Personal Accident and Health Insurance - Agencies' Direct Written Premium (QAR Million), 2014-2019
Figure 48: Qatari Personal Accident and Health Insurance - Brokers' Value of Commission (QAR Million), 2010-2014
Figure 49: Qatari Personal Accident and Health Insurance - Brokers' Value of Commission (QAR Million), 2014-2019
Figure 50: Qatari Personal Accident and Health Insurance - Brokers' Direct Written Premium (QAR Million), 2010-2014
Figure 51: Qatari Personal Accident and Health Insurance - Brokers' Direct Written Premium (QAR Million), 2014-2019
Figure 52: Qatar - Insurance Supervision and Control at Various Levels
Figure 53: Qatar - Insurance Regulatory Frameworks for Company Registration and Operation

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