Qatar Insurance Sector Overview

Companies will be aware that they have a number of options from which to obtain their insurance coverage. They will also be aware that, when operating in Qatar, such insurance is required to be procured locally. This article provides a brief overview of the insurance sector in Qatar.

There are two jurisdictions which govern the Qatar insurance sector:

1. the laws of the State of Qatar (identified as the "State" for the purpose of this article), namely the Decree Law No 1 of 1966 Concerning the Supervision and Control over Insurance Companies and Agents (Insurance Law); and
2. the rules and regulations of the Qatar Financial Centre, namely Law No 7 of 2005 as amended (QFC Law).