Oman Re: Q1 2021 results

Oman Re reported a 12% turnover increase during Q1 2021. The gross written premiums rose from 11.1 million OMR (28.72 million USD) in the first quarter of 2020 to 12.4 million OMR (32.11 million USD) one year later.

As of 31 March 2021, pre-tax profit grew by 54% to stand at 458 000 OMR (1.18 million USD) compared to the 298 000 OMR (771 246 USD) recorded in the same period of 2020. This performance was mainly due to an increase in underwriting results.

During the period under review, the Omani reinsurer's investment income reached 562 000 OMR (1.45 million USD). The combined ratio gained 3 points and was set at 95.9%.

The company's shareholder’s equity was established at 25.9 million OMR (67.07 million USD).