The Ministry of Public Health is implementing many different solutions revolving around health insurance data management, including the national health information exchange known as the "Qatar Health Information Exchange Platform" and the Qatar Pharmaceutical Track and Trace System.
The Ministry of Labour (MoL) completed in August 2023 the first phase of a practical training programme in insurance for Qataris, as well as those with Qatari mothers, as part of efforts to localise jobs in the private sector.
Qatar Central Bank (QCB) has called on companies that are willing to work in providing digital insurance comparison services to apply for the required license from the bank.
Qatar Insurance Company (QIC Group, QIC), the leading insurer in Qatar and the Middle East North Africa (MENA) region, has reported net profits of QAR325m ($89.3m) for the first half of 2023, surging by 181% from the corresponding half in 2022.
Qatar's takaful sector remained the GCC's most profitable market, with insurers reporting an average combined loss and expense ratio of lower than 80% in 2022.
Listed insurers in Qatar posted a 56% jump in combined profits to QAR385m ($106m) for the first quarter of the year from QAR247m for the corresponding quarter in 2022, according to an analysis by Badri Management Consulting, an international company offering actuarial, strategic and technology consulting services.
Qatar Islamic Insurance Group's (QIIG) ability to generate strong operating returns is demonstrated by its five-year weighted average return-on-equity ratio of 13.8% (2018-2022), says AM Best.
The prospective operating results of Qatar General Insurance & Reinsurance Company (QGIRC) are expected to be supported by the company's increased focus on selective underwriting, along with steady commission income, says AM Best.
Qatar Insurance Company's (QIC, or QIC Group) tactical shift to discontinue high-severity international operations has led to impressive performance results in the first quarter of this year, marking a significant rebound from the corresponding quarter of the previous year, the company said in a statement.
AM Best has assigned a Financial Strength Rating of 'A-' (Excellent) and a Long-Term Issuer Credit Rating of "a-" (Excellent) to Damaan Islamic Insurance Company (Beema), the second largest takaful player in Qatar. The outlook assigned to these credit ratings is 'Stable'.