Omani insurance industry: ranking of insurers in 2018
Oman: Top 10 insurance companies by 2018 gross written premiums
Figures in thousandsCompany | GWP 2018 | GWP 2017 | 2017-2018 (1) Evolution | 2018 market shares | ||
---|---|---|---|---|---|---|
In OMR (1) | In USD | In OMR (1) | In USD | |||
National Life Insurance | 134 600 | 350 515 | 114 600 | 298 311 | 17.45% | 29.03% |
Dhofar Insurance | 40 035 | 104 256 | 44 767 | 116 531 | -10.57% | 8.64% |
Oman United Insurance | 36 652 | 95 446 | 38 412 | 99 990 | -4.58% | 7.91% |
Al Medina Takaful | 30 474 | 79 358 | 29 915 | 77 871 | 1.87% | 6.57% |
Oman & Qatar Insurance | 28 269 | 73 616 | 23 379 | 60 857 | 20.92% | 6.10% |
Vision Insurance SAOG | 27 481 | 71 564 | 26 004 | 67 690 | 5.68% | 5.93% |
Al Ahlia Insurance | 25 804 | 67 197 | 25 919 | 67 469 | -0.44% | 5.57% |
Takaful Oman Insurance | 23 110 | 60 181 | 15 847 | 41 251 | 45.83% | 4.98% |
Muscat Insurance | 18 588 | 48 405 | 18 706 | 48 693 | -0.63% | 4.01% |
Arabian Falcon Insurance | 16 065 | 41 835 | 17 065 | 44 420 | -5.86% | 3.47% |
Total | 381 078 | 992 373 | 354 614 | 923 083 | 7.46% | 82.21% |
Rest of the market | 82 517 | 214 884 | 96 957 | 252 383 | -14.89% | 17.79% |
Total market | 463 595 | 1 207 257 | 451 571 | 1 175 466 | 2.66% | 100% |
Omani insurance industry in 2018 : Non-life and life gross written premiums
Figures in thousandsGWP 2018 | GWP 2017 | 2017-2018 (1) Evolution | 2018 market shares | |||
---|---|---|---|---|---|---|
In OMR (1) | In USD | In OMR (1) | In USD | |||
Non-life | 403 964 | 1 051 971 | 390 199 | 1 015 711 | 3.53% | 87.13% |
Life | 59 631 | 155 286 | 61 372 | 159 755 | -2.84% | 12.87% |
Grand total | 463 595 | 1 207 257 | 451 571 | 1 175 466 | 2.66% | 100% |
Omani insurance industry in 2018: Non-life gross written premiums
Figures in thousandsGWP 2018 | GWP 2017 | 2017-2018 (1) Evolution | 2018 market shares | |||
---|---|---|---|---|---|---|
In OMR (1) | In USD | In OMR (1) | In USD | |||
National insurance companies | 345 253 | 899 080 | 322 056 | 838 331 | 7.20% | 85.47% |
Foreign insurance companies | 58 711 | 152 891 | 68 143 | 177 380 | -13.84% | 14.53% |
Grand total | 403 964 | 1 051 971 | 390 199 | 1 015 711 | 3.53% | 100% |
Omani insurance industry in 2018: Life gross written premiums
Figures in thousandsGWP 2018 | GWP 2017 | 2017-2018 (1) Evolution | 2018 market shares | |||
---|---|---|---|---|---|---|
In OMR (1) | In USD | In OMR (1) | In USD | |||
National insurance companies | 35 034 | 91 233 | 33 216 | 86 463 | 5.47% | 58.75% |
Foreign insurance companies | 24 597 | 64 053 | 28 156 | 73 292 | -12.64% | 41.25% |
Grand total | 59 631 | 155 286 | 61 372 | 159 755 | -2.84% | 100% |
Omani insurance industry in 2018: gross written premiums per class of business
Figures in thousandsGWP 2018 | GWP 2017 | 2017-2018 (1) Evolution | 2018 market shares | |||
---|---|---|---|---|---|---|
In OMR (1) | In USD | In OMR (1) | In USD | |||
Marine | 12 119 | 31 559 | 11 706 | 30 471 | 3.53% | 2.61% |
Property damage | 36 357 | 94 678 | 35 118 | 91 414 | 3.53% | 7.84% |
Third party liability | 44 436 | 115 717 | 35 118 | 91 414 | 26.53% | 9.59% |
Motor | 145 427 | 378 709 | 140 472 | 365 657 | 3.53% | 31.37% |
Engineering | 8 079 | 21 039 | 15 608 | 40 629 | -48.24% | 1.74% |
Other risks | 8 079 | 21 039 | 19 510 | 50 786 | -58.59% | 1.74% |
Health | 149 467 | 389 230 | 132 667 | 345 340 | 12.66% | 32.24% |
Total non-life | 403 964 | 1 051 971 | 390 199 | 1 015 711 | 3.53% | 87.13% |
Total life | 59 631 | 155 286 | 61 372 | 159 755 | -2.84% | 12.87% |
Grand total | 463 595 | 1 207 257 | 451 571 | 1 175 466 | 2.66% | 100% |
(1) Omani Rial (2) Variation in local currency
Source: Capital Market Authority, Oman
Exchange rate OMR/USD as at 31/12 | 2017 | 2018 |
2.60306 | 2.60412 |
Related article | The Omani insurance industry: 2013-2017 turnover per company
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