Market growth in 2011

With a premiums’ volume of 281.7 million OMR (733.8 million USD), the Omani market has reported a 12.2% growth in 2011. Dhofar Insurance remains by far the first company in terms of turnover, posting 52.23 million OMR (136 million USD) of premiums, followed by Al Ahlia with 29.52 million OMR (77 million USD) and Oman United with 29.31 million OMR (76 million USD). The market development rests upon the rise of public investments and upon the increasing demand in motor and health covers. The poor penetration rate in the country (1%) is an indicator of a substantial potential growth of the insurance business.