“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,” the company in a statement said.
“bni 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,” it added.
“As an insurance provider bni understands that spread of risk is critical to sustainable profitable growth of any insurance company. We believe that Qatar will offer this spread. We see that it has a fast developing economy with indigenous market expansion in various areas of interest such as the hospitality, construction and commercial sectors where bni will be competing to provide its services,” Joseph Rizzo, General Manager, General Insurance, 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,” Mahmood Al Soufi, Chief Executive of BNH, said.