Oman – 1.6% insurance share of GDP in 2015
Monday, 05 30 2016, Category: Insurance and Reinsurance, Country: Oman
The Capital Market Authority in Oman issued the insurance statistics for the year 2014-2015 containing the most important statistics such as insurance premiums, paid claims, number of issued policies, number of employees, retention percentage, loss ratio for different insurance branches, in addition to the financial indicators about the operating performance of insurance companies according to the “Oman” website on Monday (30 May 2016).
The audited financial statements for year 2015 showed that the contribution of the insurance sector to the Gross Domestic Product in the Sultanate was approximately 1.6% compared to 1.3% in year 2014. Moreover, the total written premiums of the insurance sector increased by 11% reaching OR 442.08 million in the end of last year compared to OR 396.52 million by year end 2014.
Source: Al Wasat News