BMI View: The prospects for Qatar's insurance sector have been overshadowed by the mid-2017 imposition of economic and political sanctions. It remains to be seen what will be the ultimate impact. However, it is likely that there will be a negative impact on the insurance sector over the coming two years, although ratings on most Qatar-based insurance entities are not immediately affected. To the extent that sanctions reduce demand for expatriate labour, they will reduce demand for the savings and protection products that wealthier expatriates (and their employers) buy. In any event, the growth of the non-life segment as a whole has been, and will continue to be, constrained by competition in the motor vehicle sub- sector.
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