Oman – Ins. capitals increase by 14%
Monday, 05 14 2018, Category: Insurance and Reinsurance, Country: Oman
The audited financial statements of the insurance sector in the Sultanate of Oman indicate that the contribution of insurance to GDP was 1.63% during year 2017. Moreover, direct insurance premiums increased by 0.3% reaching OR 451.57 by year-end 2017 compared to OR 450.24 million in the end of the previous year. The number of insurance contracts issued reached 1.72 million with a 4% increase compared to year 2016.
These figures were published in the “insurance sector indicators of 2017” by the Capital Market Authority of the Sultanate of Oman. It gave details on the insurance premiums, paid claims and the number of contracts, retention rates, loss ratios of all lines in addition to the financial indicator of insurance companies and their operational performance during the year.
Source: Al Roya - Oman