Oman Re: increasing results as at 30 September 2022

Oman Re, the Sultanate's sole reinsurer, ended the first three quarters of 2022 with a 30% turnover increase to 31.3 million OMR (81.3 million USD).

The net profit grew by 112% to 1.3 million OMR (3.4 million USD). The combined ratio improved by 7.9 points to 93.5%.

During the period considered, investments and other income rose by 5% to 1.6 million OMR (4.1 million USD ).

The Company's equity amounted to 27.7 million OMR (72 million USD) as at 30 September 2022.

According to Romel Tabaja, CEO of Oman Re, this performance has been achieved through prudent underwriting as well as exceptional risk and capital management.