Oman - Takaful share in premium grows to 9.3%
Tuesday, 07 25 2017, Category: Islamic Insurance, Country: Oman
Takaful companies witnessed good growth during 2016 with gross direct premiums touching 42.06 million rials representing 9.3 per cent in the insurance sector.
The growth in the gross direct premiums was about 18 per cent and the total claims paid by 31 per cent.
Total number of policies, commissions and production costs and general and administrative expenses and total assets grew by 21, 17, 4 and 9 per cent, respectively.
The CMA report says general Takaful business, launched in 2014, represents 90 per cent of Takaful business at 37.68 million rials while family Takaful represents just 10 per cent.
Source: Oman Tribune