Omani insurance market in 2021

assurance résultatsAccording to the data published by the Capital Market Authority of Oman (CMA), local insurers have recorded a 3% turnover increase in 2021 with 479.857 million OMR (1.243 billion USD).

The Omani insurance sector is dominated by the health and motor classes of business with respective market shares of 34.1% and 21.4%. Meanwhile, the life activity accounted for 11.9% of the total written premiums in the Sultanate by the end of 2021.

As for takaful contributions, they have increased by 9.1% to reach 70.779 million OMR (183.3 million USD) in 2021 compared to 64.848 million OMR (168.03 million USD) in 2020.

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