Page 64 - Annual Report 2019
P. 64
61 ANNUAL REPORT 2019 SUPERVISION AND AUTHORISATION
6. Combined ratio analysis
Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019
Loss ratio Expense ratio Combined ratio
The combined ratio was above 100% over the 12-month period ending 31 December
2019, reflecting negative underwriting results due to a few large property claims
incurred by some QFC insurers. The level of profitability was broadly a reflection
of the highly competitive insurance market in Qatar. This has led to pressure on
premium rates and operating models, and narrower profit margins.
