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| Population (1) (2025): 5 310 000 inhabitants |
| GDP (1) (2025): 106.13 billion USD |
| GDP per capita (1) (2025): 19 987 USD |
| GDP growth rate (1) (2025): 2.4% |
| Inflation rate (1) (2025): 1% |
(1) Source: International Monetary Fund
Read also | Insurance companies in Oman
The Omani insurance market features in 2025
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| 2025 | |
| Turnover | 1 430.9 million USD |
| Penetration rate | 1.3% |
| Insurance density | 269.5 USD |
Structure of the Omani insurance market
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| Market players | Number |
| Traditional insurance companies | 14 |
| Takaful companies | 2 |
| Reinsurance company | 1 |
| Insurance brokers | 35 |
| Healthcare providers | 5 |
| Vehicle damage assessment companies | 10 |
| Insurance agents | 138 |
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| Regulatory authority | |
| Financial Services Authority Sultanat of Oman | https://fsa.gov.om/ |
The Omani insurance market : premium evolution by class of business
Figures in thousands USD
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| 2021 | 2022 | 2023 | 2024 | 2025 | |
| Non-life | 1 094 203 | 1 227 582 | 1 290 198 | 1 094 090 | 1 120 964 |
| Life | 148 439 | 174 203 | 174 631 | 217 953 | 309 907 |
| Total | 1 242 642 | 1 401 785 | 1 464 829 | 1 312 043 | 1 430 871 |
The Omani insurance market : turnover by company type
Figures in thousands USD
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| Company type | 2021 | 2022 | 2023 | 2024 | 2025 | Evolution 2024-2025 (1) | Shares 2025 |
| Local companies | 1 038 842 | 1 171 469 | 1 246 179 | 1 060 214 | 1 181 860 | 11.5% | 82.6% |
| Foreign companies | 203 800 | 230 316 | 218 650 | 251 829 | 249 011 | -1.1% | 17.4% |
| Grand total | 1 242 642 | 1 401 785 | 1 464 829 | 1 312 043 | 1 430 871 | 9.1% | 100% |
(1) Growth rate in local currency
The Omani insurance market: turnover by class of business
Figures in thousands USD
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| Classes of business | 2021 | 2022 | 2023 | 2024 | 2025 | Shares 2025 |
| Motor | 265 689 | 275 897 | 287 849 | 306 146 | 329 762 | 23.00% |
| Health | 424 349 | 495 941 | 560 050 | 292 516 | 310 555 | 21.70% |
| Property damage | 197 628 | 233 126 | 220 158 | 262 261 | 233 152 | 16.30% |
| Engineering | 63 044 | 66 062 | 54 362 | 66 479 | 62 470 | 4.40% |
| Marine | 33 222 | 36 901 | 46 793 | 46 457 | 53 886 | 3.80% |
| Third-party liability | 33 994 | 35 917 | 44 967 | 45 991 | 41 932 | 2.90% |
| Other risks | 76 277 | 83 738 | 76 019 | 74 240 | 89 207 | 6.20% |
| Total non-life | 1 094 203 | 1 227 582 | 1 290 198 | 1 094 090 | 1 120 964 | 78.30% |
| Individual insurance | 41 742 | 47 458 | 51 583 | 108 679 | 212 040 | 14.80% |
| Group insurance | 106 697 | 126 745 | 123 048 | 109 274 | 97 867 | 6.90% |
| Total life | 148 439 | 174 203 | 174 631 | 217 953 | 309 907 | 21.70% |
| Grand total | 1 242 642 | 1 401 785 | 1 464 829 | 1 312 043 | 1 430 871 | 100% |
The Omani insurance market: loss ratio by non-life class of business in 2025
Figures in thousands
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| Classes of business | Net incurred losses | Net earned premiums | Loss ratio | ||
| OMR | USD | OMR | USD | ||
| Motor | 94 399 | 244 781 | 113 542 | 294 421 | 83.10% |
| Health | 94 577 | 245 243 | 99 686 | 258 491 | 94.90% |
| Property damage | -1 274 | -3 302 | 12 813 | 33 225 | -9.90% |
| Engineering | 418 | 1 085 | 4 732 | 12 271 | 8.80% |
| Marine | -53 | -138 | 2 869 | 7 439 | -1.80% |
| Third-party liability | 256 | 664 | 3 765 | 9 763 | 6.80% |
| Other risks | 3 067 | 7 953 | 9 208 | 23 878 | 33.30% |
| Total non-life | 191 390 | 496 286 | 246 615 | 639 488 | 77.60% |
The Omani insurance market: management expenses ratio by non-life class of business in 2025
Figures in thousands
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| Classes of business | Management expenses | Net written premiums | Management expenses ratio | ||
| OMR | USD | OMR | USD | ||
| Motor | 31 183 | 80 859 | 117 264 | 304 073 | 26.60% |
| Health | 19 499 | 50 563 | 104 679 | 271 439 | 18.60% |
| Property damage | 11 077 | 28 724 | 12 569 | 32 591 | 88.10% |
| Engineering | 2 756 | 7 145 | 3 867 | 10 028 | 71.30% |
| Marine | 1 949 | 5 055 | 2 745 | 7 117 | 71.00% |
| Third-party liability | 2 005 | 5 200 | 3 446 | 8 937 | 58.20% |
| Other risks | 4 491 | 11 645 | 9 713 | 25 186 | 46.20% |
| Total non-life | 72 960 | 189 191 | 254 283 | 659 371 | 28.70% |
The Omani insurance market: combined ratio by non-life class of business in 2025
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| Classes of business | Loss ratio | Management expenses ratio& | Combined ratio |
| Motor | 83.10% | 26.60% | 109.70% |
| Health | 94.90% | 18.60% | 113.50% |
| Property damage | -9.90% | 88.10% | 78.20% |
| Engineering | 8.80% | 71.30% | 80.10% |
| Marine | -1.80% | 71.00% | 69.20% |
| Third-party liability | 6.80% | 58.20% | 65.00% |
| Other risks | 33.30% | 46.20% | 79.50% |
| Total non-life | 77.60% | 28.70% | 106.30% |
Source: Financial Services Authority - Oman
Exchange rate as at 31/12/2025: 1 OMR = 2.59306 USD; at 31/12/2024: 1 OMR = 2.58974 USD; at 31/12/2023: 1 OMR = 2.59027 USD; at 31/12/2022: 1 OMR = 2.58954 USD; at 31/12/2021: 1 OMR = 2.58961 USD
