Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Oman- Health insurance leading the market

Monday, 04 15 2019, Category: Insurance and Reinsurance, Country: Oman
Oman's latest insurance market indicators showed that health insurance has first time overtaken motor segment in terms of market share in total insurance premiums.

Health insurance premiums topped other insurance products with 33 per cent share in total premiums, surpassing car insurance, which accounted for 31 per cent of total premiums, according to a report published Oman News Agency.

Insurance sector data showed an increase of RO12mn in total premiums by end of 2018, which is 3 per cent higher, compared to a year ago figures.
In contrast, the data showed that health insurance has been growing sharply in recent years, recording an annual growth rate of 30.5 per cent during the period from 2011 to 2018.

As the sultanate prepares to introduce mandatory health insurance cover for expatriate workers and visitors, the outlook for the growth of health insurance segment in Oman remains highly positive for next few years.
Currently, the number of private sector employees covered by health insurance umbrella is about 450,000 workers. In light of the implementation of mandatory health insurance scheme, the number of private sector employees to be covered is expected to reach more than 2mn, in addition to Omanis working in the private sector and visitors to the sultanate.

These trends show that Oman's insurance industry is on the verge of a new expansion era that will witness entry of new insurers, investment entities and private health institutions and create jobs in the sultanate's insurance sector.

All copyrights reserved, Arab Reinsurance 2016 ©