Doha Insurance Company Q.S.C is a Qatari shareholding company registered an incorporated in the state of Qatar under Emiri Decree No. 30 issued on 2nd October 1999, listed on Qatar Exchange, and is engaged in the business of insurance and re-insurance.
The Company was formed in response to the need for growth in the insurance industry, warranted by unprecedented accelerated economic expansion in Qatar as well as the enactment of laws encouraging investments.
During 2006, the Company established an Islamic Takaful branch under the brand name " Doha Takaful " to carry out insurance and reinsurance activities in accordance with Islamic Sharia principles on a non-usury basis in all areas of insurance.
Despite being the newest of the five national insurance companies, Doha Insurance’s development is seen as rapid. Its 2013 Gross Written Premium was QR 517 million (US$ 142 million) which is more than 1.50 times the 2009 figures. The Gross Written Premium has witnessed an average growth of more than 12.50% per annum over the past four years.
Supported by highly motivated and well qualified team, Doha Insurance is now poised to play a major role in the Regional and Arab insurance industry.
Doha Insurance was founded by 553 members, who are either prominent Qatari businessmen or present prestigious Qatari business entities. Formed with a fully paid-up capital QR 127 million (US $ 35 million), DohaTakaful was listed on Doha Securities Market in December 2001 and presently has more than 2000 shareholders.
The capital based of the company has been increased to QR 180 million (US $ 50 million) through the right issue in April 2008 and again raised to QR 234 million (US $ million) through issue of bonus shares in March 2012 and again raised to QR 257 million (US $ 70 million) through issue of bonus shares in March 2013.
In April 2014, the capital increased to QR 500 million (US$ 137 million) through rights issue.
Doha Insurance Co. Ratings Raised to ‘A-’; Outlook Stable
On 14 July, 2014, Standard & Poor’s Rating Services raised the insurer financial strength and counterparty credit ratings on Doha Insurance Co. to ‘A-‘; Outlook Stable.
Doha Insurance aims to raise the level of professionalism in the insurance services in the State of Qatar. The Company employs well qualified and experienced insurance professionals who provide corporate and individual insurance at competitive rates for all classes of insurance. DohaTakaful is dedicated to quality of tailored customer service and mutual trust. claims processing functions are streamlined to provide customers with fair and timely settlements. Company wins of some major property and construction accounts evidences this.
Our Senior Executives
Doha Insurance is an expanding company supported by highly motivated and well qualified senior executives. The team enjoys a wealth of professional qualification, exposure and expertise in GCC, Arab and International Markets.