(MENAFN) Qatar Re is expecting gross premiums to increase by more than 60% to USD550 million this year after reporting a gross premiums of USD327 million in the January-June period, increasing 55 percent compared to the corresponding period of last year, Gulf Times reported.
The company, which has reported a net profit of USD16 million in the first six months of this year, is planning to expand its business as well as growing its presence in the Americas and Asia.
At present, agriculture, credit, energy, marine, aviation and engineering businesses account for about a third of the portfolio of the company, while Property and motor liability complete the company's well diversified portfolio of business.
Meanwhile, the first half of the year's total net investment income increased 26 percent compared to last year reaching USD11.7 million.
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