Results 2017 of the Omani insurance market

The premium volume generated by all Omani insurers amounted to 451.57 million OMR (1.18 billion USD) in 2017, slightly higher than the 450.24 million OMR (1.17 billion USD) achieved in 2016. In the last five years, the market turnover has reported an average annual growth of 5.8%.

Motor insurance accounted for 34% of the underwritings against 30% for the health class of business.

With a turnover of 45.76 million OMR (119.12 million USD), takaful business grew by 9% totaling more than 10% of the market.

The number of insurance policies increased by 4% at 1.72 million by the end of 2017, stated the Capital Market Authority (CMA).

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