Results of the Qatari insurance market in 2008

Despite a GDP growth rate of 16% in 2008, the Qatari insurance market has progressed by only 5%. The written premium volume of 3 billion QAR (824.6 million USD) is well below the expectations of the insurance professionals. The slowdown in the writings is attributed to the international economic downturn which resulted in the crash of the building sector in Qatar.