Oman Re: net profit on the rise by 110% in H1 2019

Oman Re reported a net profit of 286 900 OMR (743,200 USD) at the end of June 2019, up by 110% compared to the 136 500 OMR (353 700 USD) recorded at June 30, 2018. This performance is accounted for by the improved investment income.

the turnover reached 13.5 million OMR (34.9 million USD) in the first six months of 2019, against 15.1 million OMR (39.1 million USD) one year earlier. The decline in the premiums' volume, coupled with a higher loss experience, affected the combined ratio, which reached 104.5%, decreasing by 2.1 points compared to the previous year.

In June 2019, Fitch Ratings awarded the Omani reinsurer a BBB- financial strength rating with a stable outlook.

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