Fire insurance dominates the Qatari market
Based on a survey conducted by Timetric, fire insurance will be generating a premium volume of 6.4 billion QAR (1.8 billion USD) by 2019 in Qatar. This figure comes to consolidate the dominant position of this class of business within non life insurance.
Between 2009 and 2014, the amounts of fire underwritings rose from 1.8 billion QAR (495 million USD) to 4.3 billion QAR (1.2 billion USD). The growth expected for upcoming years is supported byinvestments in construction projects, especially those initiated by the government in the area of infrastructure.
In an effort to diversify the country’s economy, 150 billion USD will be invested by the State in these construction projects, excluding the energy sector. The 2022 Soccer World Cup also stands as an important growth driver.
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