Sultanate of Oman – 10% premium increase last year
Friday, 05 08 2015, Category: Insurance and Reinsurance, Country: Oman
The latest figures released revealed that the increase in total direct written premiums of insurance companies operating in the Sultanate reached 10% with OR 396.5 million last year compared to OR 359.9 million in year 2013. Motor insurance represents the largest share of total direct premiums of Omani and foreign insurance companies, followed by health insurance which started growing in the last period.
The Capital Market Authority seeks to raise the awareness of society about the other insurance branches such as travel insurance, home insurance, workmen compensation especially for the workers in the private sector. The statistics which reached (Economic Oman) indicated an increase in total non-life direct premiums of 10% reaching OR 354.9 million by year end 2014 compared to OR 322.2 million in year 2013.
Concerning life insurance, total direct written premiums increased by 10% reaching OR 41.7 million by year end compared to OR 37.8 million in year 2013.
Source: Oman Daily