Qatari bank Amwal has signed an agreement for mutual co-operation with Doha Insurance.

The two companies will share expertise in insurance-related and employee benefits activities, particularly in corporate medical insurance, life insurance and other related products.

Amwal chief executive officer Dr Laurent Lavigne du Cadet and Doha Insurance general manager Bassam Hussein signed the agreement.

“Niche insurance products like corporate medical and life insurance are fast growing market segments in Qatar. To address the growing demand for quality and trusted insurance products from our extensive clientele, it is imperative to offer them the choice of association with renowned insurance companies.

Doha Insurance has long-standing trust and affinity in the local market and our partnership will bring new synergies that will benefit both companies,” Dr du Cadet said.

Hussein added: “Mutual co-operation, involving partners with proven strengths, is the way forward in the insurance sector – which is fast-growing in Qatar. Doha Insurance has built its credibility over the years through our commitment to customers, and our partnership with Amwal will be of immense benefit in reaching out to a wider audience.”

Qatar’s insurance sector has gained rapid strides in the past two years with gross premiums reportedly gaining 50 to 60 per cent annually – presenting a robust growth opportunity for Amwal and Doha Insurance. – Trade Arabia News Service