Qatar – Insurance as 1.5% of GDP
Tuesday, 03 29 2016, Category: Insurance and Reinsurance, Country: Qatar
Mr. Salim Mansour Country Manager at AXA Gulf Qatar said that Qatar ranks third in the GCC according to written premiums in the insurance sector. Premiums in Qatar reached USD 2.2 billion in year 2014 and they are expected to reach USD 2.5 billion by year end 2015 according to the Moody’s rating agency.
Mr. Mansour said in an interview with “The Edge” magazine that due to the planned advancements in the future five years in the fields of sports, tourism and investment, he expects the insurance sector to grow significantly in order to reach 1.5 percent of the Gross Domestic Product. He also considers competition and price wars to be among the leading challenges facing the insurance sector internationally.
Source: Newspaper Al Watan