Ranking of insurance companies in Oman
Figures in thousands
Ranking 2023 | Companies | 2023 turnover | 2022 turnover | 2022-2023 turnover (1) | 2023 shares | ||
---|---|---|---|---|---|---|---|
OMR | USD | OMR | USD | ||||
1 | National Life & General Insurance Co. | 168 030 | 435 243 | 164 429 | 425 796 | 2.19% | 28.22% |
2 | Dhofar Insurance Company | 73 507 | 190 403 | 64 481 | 166 976 | 14.00% | 12.34% |
3 | Oman Qatar Insurance Co. | 59 231 | 153 424 | 37 281 | 96 541 | 58.88% | 9.95% |
4 | Al Madina Insurance | 42 747 | 110 726 | 44 708 | 115 773 | -4.39% | 7.18% |
5 | Oman United Insurance Company | 34 305 | 88 859 | 32 034 | 82 953 | 7.09% | 5.76% |
6 | Takaful Oman Insurance CO. | 34 098 | 88 323 | 31 548 | 81 695 | 8.08% | 5.73% |
7 | Gulf Insurance Group (Gulf) | 32 350 | 83 795 | 33 218 | 86 019 | -2.61% | 5.43% |
8 | Liva Insurance Co. | 24 801 | 64 241 | 19 823 | 51 333 | 25.11% | 4.16% |
9 | Arabia Falcon Insurance | 22 698 | 58 794 | 21 574 | 55 867 | 5.21% | 3.81% |
10 | Muscat Insurance Company | 21 683 | 56 165 | 15 244 | 39 475 | 42.24% | 3.64% |
11 | The New India Assurance Company | 13 981 | 36 215 | 13 494 | 34 943 | 3.61% | 2.35% |
12 | Orient Insurance Company | 10 524 | 27 260 | 8 847 | 22 910 | 18.96% | 1.77% |
13 | Oman Insurance Company (Sukoon Insurance) | 9 748 | 25 250 | 16 907 | 43 781 | -42.34% | 1.64% |
14 | American Life Insurance Company (MetLife) | 9 594 | 24 851 | 9 435 | 24 432 | 1.69% | 1.61% |
15 | Cigna Middle East Insurance Company | 4 892 | 12 672 | 3 778 | 9 783 | 29.49% | 0.82% |
16 | Iran Insurance Company | 1 806 | 4 678 | 1 226 | 3 175 | 47.31% | 0.30% |
17 | Saudi Arabian Insurance Company | 1 516 | 3 927 | 1 668 | 4 319 | -9.11% | 0.25% |
Total | 565 511 | 1 464 826 | 519 695 | 1 345 771 | 8.82% | 94.96% | |
Rest of the market (2) | 29 989 | 77 680 | 21 631 | 56 014 | 38.64% | 5.04% | |
Grand total (3) | 595 500 | 1 542 506 | 541 326 | 1 401 785 | 10% | 100% |
(1) Growth rate in local currency
(2) 3 companies
(3) Estimated 2023 turnover
Exchange rate as at 31/12/2023 : 1 OMR = 2.59027 USD ; as at 31/12/2022 : 1 OMR = 2.58954 USD
Read also | Omani insurance market
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Tue, 25/06/2024 - 14:21
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