DOHA: The Standard & Poor’s Ratings Services in its latest insurance industry and country risk assessment (IICRA) has assessed Qatar as ‘intermediate’. “Our assessment reflects the risks typically faced by (property/casualty) insurers operating in Qatar and is derived from our view of intermediate country risk and intermediate industry risk for the P/C insurance sector”, the ratings agency noted yesterday.
It expects the country’s growth prospects will remain favourable for the sector. The market is highly competitive, particularly in commoditised lines such as motor and medical insurance, although product risk in these lines is low. Nevertheless, the S&P expects profitability and growth prospects to remain favorable, particularly in commercial lines as the level of insurable activity in Qatar increases. The Peninsula
