Double digit growth in the Omani insurance market in 2016

The Omani insurers are expecting a 10% to 11% increase in their turnover in 2016. The increase in 2015 was similar as premium volumes increased by 11% to reach 442 million OMR (1.1 billion USD).

Motor insurance accounted for 37% of gross premiums while health insurance claimed a market share of 23%. Both classes of business have been progressing significantly, in spite of a recent decline in registrations in the country. The impact of this decrease on the insurers' motor turnover is likely to remain limited.

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