Omani insurance market: H1 2023 turnover

The Capital Market Authority (CMA) has released the Omani insurance market results as at 30 June 2023. The overall turnover of all insurers reached 332.9 million OMR (862 million USD), representing an 11.9% increase over one year.

Domestic companies accounted for 85.7% of this amount, against 14.3% for foreign companies operating in the Sultanate.

Insurance companies have settled claims amounting to 115 million OMR (297.7 million USD) in the first half of 2023, up by 17% compared with the same period of 2022.