Oman – OR 130 million insurance premiums in Q1
Monday, 06 13 2016, Category: Insurance and Reinsurance, Country: Oman
The preliminary statistics of the insurance market in the Sultanate posted a growth rate of 7 percent in total insurance written premiums reaching OR 130 million with a OR 9 million compared to the same period last year.
According to the statistics of the Capital Market Authority the growth rates among insurance lines vary greatly. The marine, property and other insurance lines decreased respectively by 3%, 18% and 8%. Moreover, life insurance, health insurance and liability witnessed the highest growth rates. But motor and health insurance lines still represent the largest part of the insurance market in the sultanate with respective shares of 34% and 27%.
The shares of some products in the first quarter decreased compared to year 2015 i.e. comprehensive motor by 2%, engineering insurance by 1%, property insurance by 4% and transportation by 1%.