Doha Insurance, 2016 results

Doha Insurance reported a net consolidated profit of 72 million QAR (19.8 million USD) in 2016. The gross premium volume reported in the same year amounted to 515.5 million QAR (141.7 million USD).

The 2016 results declined in comparison with those of 2015 which were set at 111 million QAR (30.5 million USD) for a gross premium volume of 494 million QAR (135.8 million USD).

The 35% decline in profits is accounted for by the economic slowdown in the region and the tariff war conducted by the companies.

The 2016 turnover of Mena Re, the group’s reinsurance subsidiary, amounted to 35 million QAR (9.6 million USD). The reinsurer is hoping to achieve 50 million USD in premiums for 2017.

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