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UAE - Oman Ins. reports AED160.2m Q3 net profit

Tuesday, 12 01 2020, Category: Insurance and Reinsurance, Country: U.A.E
Oman Insurance Company, one of the leading insurance providers in the Middle East, has announced net profit growing to AED160.2 million ($43.6 million) in the third quarter of 2020.

The company’s solvency above 250% which is amongst the highest in the country. In addition, the company reported a customer satisfaction index of 88%, two points above 2019 average.

Jean-Louis Laurent Josi, Chief Executive Officer at Oman Insurance, said: “Despite a challenging environment, all our key indicators are going in the right direction, thanks to the hard work of the teams. But we are particularly proud to see our customer satisfaction going continuously up. After 45 years of protecting individual clients and companies, we continue to innovate to make their life simpler. Now, over 830,000 customers trust us to deliver smooth and fast service when they need it most.”

Total gross premium written (GPW) at the end of Q3 2020 stood at AED2.9 billion, higher than the previous year (AED2.8 billion in Q3 2019), whilst the company’s net premium earned (NPE) remained the same as last year at AED1.2 billion in Q3 2020 and the highest in the UAE market.


Source: Trade Arabia
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