Sharq Insurance LLC, formerly known as Doha Bank Assurance Company LLC (‘DBAC’), was established in 2007 as part of Doha Bank’s strategy to create a “one-stop shop” financial services provider and offers general insurance products. The company is a wholly owned subsidiary of Doha Bank and is licensed / regulated by Qatar Financial Centre Regulatory Authority.
Sharq Insurance has been rated by Standard & Poor’s as ‘BBB’ (counterparty credit and insurer financial strength) with “Stable” outlook and is an ISO 9001:2015 certified company.
Sharq Insurance facilitates the management of general insurance risk protection to both commercial & personal line clients with comprehensive insurance solutions and provides hassle-free claims services. The company is supported by a panel of ‘A’ rated reinsurers to reduce “pay out” risks on large insurance claims. Sharq Insurance’s clientele includes large Qatari corporations, as well as government institutions.
The company offers a wide range of insurance products, including contractors’ all risks insurance, property and equipment insurance, public liability insurance, group medical and motor insurance. These products are marketed through a variety of distribution channels to bank/non-bank clients and insurance brokers, with Sharq Insurance’s primary focus on the convergence of the bank’s customer base through its risk advisory/product services.
In the coming years, Sharq Insurance will focus on building a unique brand, which will be an important component toward building consumer trust, loyalty & professional reputation as we expand further into marketplace. The company is developing a new marketing strategy and digital transformation to maximize internal and external distribution channel opportunities.
In addition to providing a competitive customer value proposition, Sharq Insurance will also maintain focused efforts on its strong risk management framework, underwriting controls and capital adequacy as demonstrated by its ratings and ISO accreditation upgrade.