Qatar General Insurance Market Report 2025 | Size, Growth, and Forecast by 2033

Market Overview

The Qatar General Insurance Market reached a market size of USD 2.0 Billion in 2024. The market is forecasted to grow to USD 3.4 Billion by 2033, driven by factors such as growing infrastructure developments, mandatory health insurance, and increasing awareness about insurance benefits. These elements, together with a well-regulated financial landscape promoting stability and user protection, contribute to the market expansion. The growth is expected during the forecast period of 2025-2033 at a CAGR of 5.50%.

How AI is Reshaping the Future of Qatar General Insurance Market

• AI-driven data analytics enable insurers to customize products and improve service quality, enhancing customer satisfaction and retention.

• Government initiatives for mandatory health insurance enhance the integration of AI in claims processing and risk management, boosting efficiency.

• AI-powered chatbots and digital platforms help insurers offer personalized and prompt customer service, as seen with companies introducing seasonal campaigns like Sharq Insurance's Ramadan discount offer.

• Enhanced AI algorithms support the tourism and hospitality sector by providing tailored insurance products for travel and liability coverage, aligning with Qatar's growth as a tourist destination.

• Insurance companies, such as Aetna International and QGIRCO, leverage AI technologies to comply with local health regulation benefits, offering seamless coverage without deductibles.

• Awards and recognition, like Qatar Insurance Company (QIC) being named Best Travel Insurance Company in the Middle East, reflect the adoption of digital and AI-enhanced customer-centric services.

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Market Growth Factors

The general insurance market in Qatar has remained on an uptrend due to economic diversification away from hydrocarbons, infrastructure-related investment and growth in population due to expatriate inflows. Motor, property and liability insurance segments have seen stronger growth due to the compulsory nature of these insurance products and the increase in vehicle registrations due to improving personal disposable incomes. Stricter compliance and risk standards from the Qatar Central Bank have been credited with improving market stability as well as increasing adoption among businesses and consumers. Increased awareness of the need for risk protection for high-value assets, and active economic growth and urbanization, are predicted to drive the Qatari insurance market at a compound annual growth rate (CAGR) of over 5% through the late 2020s.

Qatar's general insurance industry transforms digitally as a key trend. When people adopt artificial intelligence, data analytics and digital platforms, operations become more efficient. Turnaround times speed up. Services become customized. Costs reduce by automating policy issuance, claims processing and customer communications. Insurers adapt to consumers with digital skills and expatriates. They prefer online interactions and purchasing options. The growth of insurtech products such as mobile applications giving quotes or enabling consumers to manage their own insurance policy has brought new competition to an otherwise customary industry. The growth of telematics products in motor insurance, as well as cyber risk insurance, is a sign of consumer demand and an attempt to improve efficiency in an increasingly digital economy.

Sustainability initiatives and the transition to green technology are impacting the Qatar general insurance market. Electric vehicles (EVs) and green building infrastructure are within the national visions for environmental sustainability. Insurers develop products to meet the needs of EV drivers and owners with coverage for EV batteries and charging infrastructure. Green building projects are increasingly incorporated into property and engineering lines. And government policies targeting low carbon growth and climate risk resiliency are driving product innovation in, for example, renewable energy assets. This not only covers new internal exposures, but will also appeal to sustainability-minded customers and drive the long-term growth of the portfolio as Qatar pursues economic development commitments.

Market Segmentation

Type Insights:

• Property

• Motor

• MAT

• Miscellaneous

Regional Insights:

• Ad Dawhah

• Al Rayyan

• Al Wakrah

• Others

Recent Development & News

• April 2025: Qatar Insurance Company (QIC) won the Best Travel Insurance Company in the Middle East for the second consecutive year, highlighting their commitment to enhancing travel insurance through innovative digital technology and customer-centric services.

• March 2025: Sharq Insurance launched a Ramadan discount campaign offering up to 15% off on selected online insurance policies using the code Ramadan2024, enhancing customer engagement and convenience during the sacred month.

• October 2025: Cigna Healthcare partnered with AlKhaleej Takaful Insurance to improve healthcare insurance accessibility through digital tools and local expertise, supporting the government’s objective of advancing health insurance for expatriates and tourists.

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