The combined net profits of eight listed insurance companies in Oman reached OMR17.8m ($46.3m) in 1H2025, from a net loss of OMR10.6m in 1H2024, according to Badri Management Consultancy, an international actuarial and risk consulting firm.
The insurance industry in Oman has seen the launch of the first domestic company licensed to engage in the management of health insurance claims.
Oman Re, the Sultanate of Oman's sole reinsurer, has announced strong financial results for the six months ended 30 June 2025, highlighting the company's operational resilience and steadfast commitment to strategic delivery.
Mergers and withdrawals from the Omani insurance market have reduced the number of insurers currently in it to 17 from 23 in 2011, according to a report released last month by the International Association of Insurance Supervisors (IAIS).
Oman's insurance regulatory and supervisory framework is assessed as having a good level of observance of the Insurance Core Principles (ICPs). A majority of the ICPs are assessed as either 'Observed' or 'Largely Observed', said the International Association of Insurance Supervisors (IAIS).
The Financial Services Authority (FSA) is preparing for the launch of the second phase of the National Health Insurance Platform "Dhamani" scheme.
There is growing recognition of the importance of financial security in the workplace in the GCC, with the average age of those with income protection falling to 41 from 51 over the last three years, according to Zurich International Life Insurance Middle East, a subsidiary of Zurich Insurance Group.
GIG Gulf has achieved a landmark milestone in Oman, becoming one of the first insurers to be awarded a Category 'A' licence by the Financial Services Authority (FSA), the company announced on its X account.
Fitch Ratings has revised the outlook on Oman Reinsurance Company's Insurer Financial Strength (IFS) Rating to 'Positive' from 'Stable' and affirmed the IFS rating at 'BBB-'.
Rising costs, increased climate-related claims, and aggressive pricing strategies are putting pressure on margins across the industry, says Badri Management Consultancy, an international company specialising in actuarial and management consulting services.