Omani insurance industry: ranking of insurers in 2018

Oman: Top 10 insurance companies by 2018 gross written premiums

Figures in thousands
CompanyGWP 2018GWP 20172017-2018 (1) Evolution2018 market shares
In OMR (1)In USDIn OMR (1)In USD
National Life Insurance
134 600350 515114 600298 31117.45%29.03%
Dhofar Insurance
40 035104 25644 767116 531-10.57%8.64%
Oman United Insurance
36 65295 44638 41299 990-4.58%7.91%
Al Medina Takaful
30 47479 35829 91577 8711.87%6.57%
Oman & Qatar Insurance
28 26973 61623 37960 85720.92%6.10%
Vision Insurance SAOG
27 48171 56426 00467 6905.68%5.93%
Al Ahlia Insurance
25 80467 19725 91967 469-0.44%5.57%
Takaful Oman Insurance
23 11060 18115 84741 25145.83%4.98%
Muscat Insurance
18 58848 40518 70648 693-0.63%4.01%
Arabian Falcon Insurance
16 06541 83517 06544 420-5.86%3.47%
Total top 10 companies
381 078992 373354 614923 0837.46%82.21%
Rest of the market
82 517214 88496 957252 383-14.89%17.79%
Total market463 5951 207 257451 5711 175 4662.66%100%

Omani insurance industry in 2018 : Non-life and life gross written premiums

Figures in thousands
 GWP 2018GWP 20172017-2018 (1) Evolution2018 market shares
In OMR (1)In USDIn OMR (1)In USD
Non-life
403 9641 051 971390 1991 015 7113.53%87.13%
Life
59 631155 28661 372159 755-2.84%12.87%
Grand total463 5951 207 257451 5711 175 4662.66%100%

Omani insurance industry in 2018: Non-life gross written premiums

Figures in thousands
 GWP 2018GWP 20172017-2018 (1) Evolution2018 market shares
In OMR (1)In USDIn OMR (1)In USD
National insurance companies
345 253899 080322 056838 3317.20%85.47%
Foreign insurance companies
58 711152 89168 143177 380-13.84%14.53%
Grand total403 9641 051 971390 1991 015 7113.53%100%

Omani insurance industry in 2018: Life gross written premiums

Figures in thousands
 GWP 2018GWP 20172017-2018 (1) Evolution2018 market shares
In OMR (1)In USDIn OMR (1)In USD
National insurance companies
35 03491 23333 21686 4635.47%58.75%
Foreign insurance companies
24 59764 05328 15673 292-12.64%41.25%
Grand total59 631155 28661 372159 755-2.84%100%

Omani insurance industry in 2018: gross written premiums per class of business

Figures in thousands
 GWP 2018GWP 20172017-2018 (1) Evolution2018 market shares
In OMR (1)In USDIn OMR (1)In USD
Marine
12 11931 55911 70630 4713.53%2.61%
Property damage
36 35794 67835 11891 4143.53%7.84%
Third party liability
44 436115 71735 11891 41426.53%9.59%
Motor
145 427378 709140 472365 6573.53%31.37%
Engineering
8 07921 03915 60840 629-48.24%1.74%
Other risks
8 07921 03919 51050 786-58.59%1.74%
Health
149 467389 230132 667345 34012.66%32.24%
Total non-life
403 9641 051 971390 1991 015 7113.53%87.13%
Total life
59 631155 28661 372159 755-2.84%12.87%
Grand total463 5951 207 257451 5711 175 4662.66%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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