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Construction projects offer diversification opportunity to insurance industry
October 03, 2014
According to a study of the Capital Market Authority, the largest construction projects initiated in Oman have allowed the insurers to diversify their portofolio.
Despite the lack of a legislation imposing insurance subscription to contractors, the latter have made it a practice, and always include it in their pre-contractual negotiations.
Another proof of the diversification of the market, the operations health (+39%), property (+18%) and engineering (+12%) have all had an higher increase than the motor operations (+9%) during the 2012-2013 period.
