Construction projects offer diversification opportunity to insurance industry

According to a study of the Capital Market Authority, the largest construction projects initiated in Oman have allowed the insurers to diversify their portofolio.

Despite the lack of a legislation imposing insurance subscription to contractors, the latter have made it a practice, and always include it in their pre-contractual negotiations.

Another proof of the diversification of the market, the operations health (+39%), property (+18%) and engineering (+12%) have all had an higher increase than the motor operations (+9%) during the 2012-2013 period.

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