In Qatar, increasing credit risks are leading insurance companies to anticipate a rise in provisions for write-offs, as revealed in a report from Badri Management Consultancy. The report, which evaluates the performance of seven listed insurers, shows a notable 10% decrease in insurance revenue for conventional firms in the first half of 2024. Takaful companies, adapting to the new IFRS 17 financial reporting standards, reported an increase in gross contributions. Overall profits for the analyzed companies rose by 16% compared to the same period last year, reflecting both challenges and improvements in financial reporting quality.
