Magazine date:
Oct 2014 The Omani government requires the opening of insurance companies’ capital. The latter have, within a deadline of three years, to introduce 40% of their capital in the stock exchange.
Alongside this measure, the authorities raised the minimum capital required from 5 to 10 million OMR (13 to 26 million USD).
Out of the 22 insurers available, 16 are required to increase capital in order to meet this new requirement. Existing insurance companies have a 36-month deadline to comply with the new legislation.