Qatar insurance industry to grow to $4.6bn in four years

Qatar insurance industry to grow to $4.6bn in four years:

"Qatar's insurance industry is expected to grow more than 9% to reach $4.6bn by 2021 as rising population continues to drive the demand for health, motor, property and other retail cover; while strategic economic diversification plans help enhance the base of assets available for underwriting, according to Alpen Capital. The insurance industry's gross written premium (GWP) is expected to be $4.6bn by 2021 compared to $3.1 this year and $2.9bn in 2016, the Alpen Capital report said. Highlighting that the country's population has grown at a fast pace of 8.6% between 2011 and 2016 to 2.6mn and is slated to grow at a compound annual growth rate (CAGR) of 1.5% until 2021, it said the growth is driven by increasing number of expatriate workers moving in for job prospects."



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