Qatar Financial Services Articles & Analysis

Chapter | Insurance from The Report: Qatar 2019

Despite a relatively small population of around 2.7m, Qatar accounts for around 5% of insurance premiums in MENA. Nevertheless, relative to the size of its economy, insurance activity remains at a modest level. Annual premiums of around $3bn account for 1.5% of GDP, compared to a global average of more than 6%. The insurance penetration rate, meanwhile, stands at less than 2%, significantly...

Its relatively small population and status as the world’s biggest gas exporter have helped Qatar become the richest country globally in terms of GDP per capita, which stood at $72,700 at current prices in 2019, according to IMF estimates. In recent years, however, the nation has faced strong economic headwinds from a drop in global energy prices to a diplomatic blockade.

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Despite a relatively small population of around 2.7m, Qatar accounts for around 5% of insurance premiums in MENA – a little more than Egypt and one percentage point behind Morocco. Nevertheless, relative to the size of its economy, insurance activity in Qatar remains at a modest level. Annual premiums of around $3bn account for 1.5% of GDP,...

Qatar is home to some of the region’s most prominent sharia-compliant institutions. Despite operating in a crowded and competitive arena, over recent decades the country has claimed a significant share of the banking, insurance and investment segments. More recently Qatar faced the challenges of a sustained dip in oil prices and a regional economic blockade. However, due to a...

 

How resilient is Qatar’s Islamic financial services (IFS) industry, and how have local banks adapted to the sector’s challenges?

 

Sharia-compliant funds are emerging as an increasingly popular investment instrument in markets across the region, and Qatar is playing an important role in this expansion. According to the Qatar Financial Centre (QFC), sharia-compliant funds accounted for $224m by end 2017; just over 50% of the assets placed in the Qatari mutual fund segment...

 

While advanced economies generate the vast majority of insurance and reinsurance business, emerging markets are posting higher rates of growth. Complementing this underlying trend is a strong and expanding interest in catastrophic risk, which by nature tends to pertain to emerging markets. This is coming alongside fast-paced, sector-...

 

The Qatar Stock Exchange (QSE) has faced considerable external challenges in recent years, including a sustained dip in oil prices and the effects of a regional economic blockade. However, after an initial decline in late 2017, the main index’s performance during 2018 has established it as one of the fastest growing in MENA. The QSE has also...