Omani Insurance Market: 2019 results

The direct turnover achieved by the entire Omani insurance market amounted to 486.5 million OMR (1.260 billion USD) against 463.5 million OMR (1.2 billion USD) in 2018, that is an increase of 4.96%.

Takaful products recorded the highest growth rate in 2019 (+20%). It is followed by the property&casualty (+5.4%) and life (+2%) classes of business.

The Omani market is still dominated by non life insurance which alone accounts for 87.5% of the premiums. For its part, the life class of business represents only 12.5% of the portfolio.