Oman – Ins. premiums reached OMR 463.5 m in 2018
Monday, 05 27 2019, Category: Insurance and Reinsurance, Country: Oman
The audited financial statements of the insurance sector issued by the Capital Market Authority revealed that the total direct insurance premiums in the Sultanate of Oman reached OMR 463.5 million by the end of year 2018 compared to OMR 451.5 million in year 2017.
Moreover, the 15th annual report of the insurance sector indicated that insurance premiums increased by OMR 12 million i.e. a growth of 2.6% noting that the contribution of the insurance sector to GDP decreased to 1.52 percent in year 2018. Furthermore, the indicators of the insurance sector showed reasonable growth rates during the past four year despite the economic and political situation and the decrease in public and private spending, which was caused by the decrease in oil prices.
Source: News Araby