(MENAFN) Qatari insurance market is showing slight improvement, hitting USD2 billion, which represents 1 percent of the country's GDP and 4 percent of the total value of insurance market in the Mena region, The Peninsula Qatar reported.
According to Deputy CEO of Qatar Financial Centre (QFC) Authority, the Qatar Central Bank (QCB) is expected to come out with fresh administrative regulations for insurance companies soon.
The CEO added that confidence prevails in the Mena insurance markets as insurers expect regional premiums to outgrow GDP and rates to finally stabilize or even start rising.
Total non-life and life insurance premium volumes in the region increased from USD30 billion to more than USD50 billion between 2008 and 2013. In the future, Swiss Re forecasts premiums to grow at an inflation-adjusted 5.5 percent for 2015 to 2016.
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