Omani insurance market in 2021
Figures in thousands
Class of business | 2021 turnover | 2020 turnover | 2020-2021 evolution * | 2021 shares | ||
---|---|---|---|---|---|---|
OMR | USD | OMR | USD | |||
Health | 163 866 | 424 349 | 155 193 | 402 125 | 5.59% | 34.15% |
Motor | 102 598 | 265 689 | 113 364 | 293 741 | -9.50% | 21.38% |
Property damage | 76 316 | 197 629 | 71 376 | 184 944 | 6.92% | 15.90% |
Engineering | 24 345 | 63 044 | 22 312 | 57 813 | 9.11% | 5.07% |
Marine | 12 829 | 33 222 | 13 692 | 35 478 | -6.30% | 2.67% |
Third party liability | 13 127 | 33 994 | 12 449 | 32 257 | 5.45% | 2.74% |
Other risks | 29 455 | 76 277 | 23 757 | 61 558 | 23.98% | 6.14% |
Total non-life | 422 536 | 1 094 204 | 412 143 | 1 067 916 | 2.52% | 88.05% |
Group insurance | 41 202 | 106 697 | 35 146 | 91 068 | 17.23% | 8.59% |
Individual life insurance | 16 119 | 41 742 | 18 606 | 48 211 | -13.37% | 3.36% |
Total life | 57 321 | 148 439 | 53 752 | 139 279 | 6.64% | 11.95% |
Grand total | 479 857 | 1 242 643 | 465 895 | 1 207 195 | 3% | 100% |
* Growth rate in local currency
Exchange rate as at 31/12/2021 : 1 OMR = 2.58961 USD ; aas at 31/12/2020 : 1 OMR = 2.59113 USD
Read also | Top 10 insurance companies in Oman
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