The regulatory authorities are exerting pressure on insurers to increase their capital with a view to raise the retention and underwriting capacity of insurance companies. While the current legislation requires a minimum capital of 5 million OMR (13 million USD), the authorities are hoping that the new players, general or takaful insurers, will have a minimum capital twice higher.
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[3] https://www.atlas-mag.net/en/issue/the-insurance-great-projects