Sharq Insurance

What Sharq Insurance does

Sharq Insurance LLC is a general insurance provider headquartered in Doha, Qatar, and a wholly-owned subsidiary of Doha Bank QPSC. Established in 2007 (originally as Doha Bank Assurance Company LLC before rebranding), the company is licensed and regulated by the Qatar Financial Centre Regulatory Authority (QFCRA) and carries a BBB/Stable rating from Standard & Poor's. It operates a two-segment general insurance portfolio: Personal Lines (Motor, Personal Accident, Home, and Travel Insurance) and Commercial Lines (Engineering, Property, General Accident and Liability, Marine, and Group Medical Insurance), covering both individuals and enterprises including large Qatari corporations and government ministries.

The company runs its technology stack through the SharqOnline digital platform, supported by iOS and Android mobile applications that enable policy purchases, renewals, and claims submissions. Medical claims are processed through integrations with Third-Party Administrators GlobeMed and NextCare, which provide direct billing and reimbursement processing. Travel insurance leverages assistance partnerships with MAPFRE (for outbound Qatar travelers) and AXA Assistance (for inbound visitors to Qatar). Distribution combines Doha Bank's branch network, a panel of insurance brokers, and the company's own digital self-serve channel.

Sharq generates revenue through insurance premiums collected on a recurring basis across its product lines, with pricing determined by sum insured, risk profile, and policy type rather than publicly disclosed rate cards. Commercial policies — including contractors' all risks, motor fleet, group medical, and property — anchor revenue alongside a retail book distributed through bank branches and digital channels. The captive ownership by Doha Bank, a Qatar-incorporated commercial bank operating since 1978, provides embedded distribution and capital stability but also constrains external capital-raising optionality.

Name

Sharq Insurance

Legal name

Sharq Insurance LLC

Website

https://www.sharqinsurance.com.qa

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Sharq Insurance is a Qatar-domiciled general insurer and wholly-owned subsidiary of Doha Bank, offering Personal Lines (motor, travel, home, personal accident) and Commercial Lines (engineering, property, marine, group medical) products distributed via bank branches, brokers, and its own SharqOnline digital platform.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers and Related Activities (524), Agencies, Brokerages, and Other Insurance Related Activities (5242)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Commercial Package / Business Owners Policies (BOP) (FSAJAMAG)

akta.pro secondary industries

Motor Vehicle Liability Insurance (FSAJAMAC), General Liability Insurance (FSAJAMAE), Full-Coverage Personal Auto Insurance (FSAJAAAF)

Keywords

• General insurance
• Motor insurance
• Travel insurance
• Commercial insurance
• Personal accident insurance

Headquarters

HQ city

Doha

HQ country

Qatar

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Insurance Premiums: Sharq Insurance generates revenue through collection of insurance premiums from both personal and commercial lines policies including motor, property, engineering, marine, group medical, and personal accident insurance

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels3 records

Core offering

Sharq Insurance provides general insurance products across two segments: Personal Lines (Motor, Personal Accident, Home, Travel) for individuals and Commercial Lines (Motor, Group Medical, Engineering, Property, General Accident and Liability, Marine Cargo and Hull) for businesses and government entities. As a wholly-owned subsidiary of Doha Bank QPSC, it distributes policies through the parent bank's branch network, its own SharqOnline digital platform and mobile apps, and a panel of insurance brokers in Qatar.

Product overview

Sharq Insurance offers a comprehensive general insurance portfolio operating under two main segments: Personal Lines (Motor, Personal Accident, Home, and Travel Insurance) and Commercial Lines (Engineering, Property, General Accident, Marine, and Group Medical Insurance). The Personal segment includes Motor Insurance with Third Party and Comprehensive options available online, Personal Accident coverage with worldwide 24-hour protection, Home Insurance for buildings and contents, and Travel Insurance with separate Inbound (for Qatar visitors) and Outbound (for Qatar residents) products. The Commercial segment encompasses Engineering products (Contractors All Risk, Erection All Risk, Contractors Plant & Machinery, Machinery Breakdown, Electronic Equipment), Property coverage (Fire and Allied Perils, Property All Risk), General Accident and Liability products (Workmen Compensation, Public Liability, Professional Indemnity, Money, Fidelity Guarantee), Marine insurance (Cargo and Hull), and Group Medical Insurance. All commercial and personal products are supported by the Sharq Online digital platform for policy management and claims filing, with Group Medical and Motor Insurance having dedicated mobile applications for customers.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance (Personal)

Quantifiable outcome

• 4.9 Customer Satisfaction Rating
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature2 records

Partnerships

Two partnerships are on record, tiered core.

• GlobeMedcoreTechnology or IntegrationThird-Party Administrator (TPA) providing direct billing network and reimbursement claim processing services for medical insurance. Provides mobile app for claim management.
• NextCarecoreTechnology or IntegrationThird-Party Administrator (TPA) providing direct billing network and reimbursement claim processing services for medical insurance. Provides mobile app for claim management.

Scale indicators4 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Qatar Insurance Company (QIC): Largest Qatari insurer and regional P&C powerhouse. Directly comparable as a multi-line general insurer operating in Qatar across personal and commercial lines; significantly larger scale than Sharq and the dominant incumbent in the same market.
• GIG Gulf (formerly AXA Gulf): Major regional multi-line insurer operating across the GCC including Qatar. Comparable in motor, property, marine, and health lines; much larger scale and broader regional footprint than Sharq.
• AXA Insurance Gulf: Global insurer operating across the Gulf with motor, home, travel, and health products. Comparable in personal lines distribution model and brand-driven retail insurance; broader regional and global scale.

Direct peers

• Doha Insurance Company: Qatar-based general insurer offering motor, property, marine, engineering, and liability lines. Direct peer given shared geography, similar multi-line general P&C scope, and overlapping target segments (corporate and individual).
• Al Khaleej Takaful Insurance: Qatari takaful/insurance provider offering motor, medical, property and engineering coverage. Direct peer in the same Qatar market with similar personal and commercial line breadth.
• Beema (Qatar): Qatari insurer offering motor, travel, home, and personal accident products. Closely comparable to Sharq's personal lines focus, especially in retail motor and travel insurance distribution in Qatar.

Regional players

• Oman Insurance Company: UAE-based multi-line P&C insurer with strong motor, property, engineering, and medical lines. Comparable in product scope and GCC market dynamics, though not directly competing in Qatar today.
• Saudi Enaya Cooperative Insurance: Saudi-listed cooperative health insurer. Comparable in group medical insurance capabilities and TPA-led delivery model; operates in a different geography but similar GCC regulatory and competitive backdrop.
• Bupa Arabia: Largest health insurer in Saudi Arabia, comparable in group medical and corporate health insurance capabilities. Different geography but similar employer-sponsored health insurance model and TPA integration.
• Salama Insurance: UAE-listed Islamic insurer offering motor, medical, property and engineering lines. Comparable multi-line general insurance scope and GCC market dynamics; serves a different geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCfbcis_mzl8Sjnbuq-TOtyg
• Facebookfacebook.com/Sharqinsuranceqa
• LinkedInlinkedin.com/company/sharq-insurance
• Instagraminstagram.com/sharqinsuranceqa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sharq Insurance