Oman – Premiums increase to OR 466 during 2015
Tuesday, 02 16 2016, Category: Insurance and Reinsurance, Country: Oman
The unaudited financial statements of the Capital Market Authority indicate that the insurance sector in the Sultanate achieved growth in the total written insurance premiums of year 2015. The total direct written premiums reached OR 446 million where they increased by 11% compared to the financial year of 2014 where premiums reached OR 400 million.
The statements obtained by the Oman News Agency showed that despite the increase in insurance written premiums during the financial year 2015, the growth rates differ among the different insurance branches. Most of the insurance branches witnessed growth during the year except three branches, which had a decrease in volume. The “Other” insurance branch had the highest growth at 48%, whereas the Engineering class had the highest decrease of 6%.
Source: Oman Daily