Personal lines insurer Bahrain National Insurance Company BSC (bni) has received a QFCRA license to operate in Qatar for general insurance business.
bni will be seeking to capture a share of the country’s existing and future risks by offering general insurance products both as retail, being motor and personal lines, as well as corporate including commercial and industrial policies.
It plans to grow gradually in the Qatari market by capitalizing on its expertise in developing the insurance industry.
The company will commence its business operations – from its first branch in Doha – during 2011-2012; it is planned that bni would branch out further to other GCC countries.
BNH CEO Mahmood Al Soufi said this expansion further proves BNH’s commitment towards its strategic investment plans to strengthen its position in the regional market.
"This strategic investment will also reflect our commitment towards the insurance industry locally and regionally," Al Soufi said.