CMA approves merger between Oman Qatar Insurance and Vision Insurance

On 21 May 2023, the Omani Capital Market Authority (CMA) approved the merger between Vision Insurance and Oman Qatar Insurance, a subsidiary of Qatar Insurance Company (QIC).

The two companies signed a memorandum of understanding in December 2022 for a possible merger.

Following this transaction, the CMA withdrew Vision Insurance's life and non-life insurance license.

The CMA considers M&A transactions in the insurance industry to be a healthy phenomenon that contributes to improving insurers' financial strength and increasing competition in the local and international markets.