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Oman Re: results as at 30 September 2020

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Magazine Issue: 
Covid-19, insurers back to worrying times [3]
Magazine date: 
Oct 2020

Oman ReOman Re has recorded an increase of 25% in its turnover during the first nine months of 2020. The latter went from 17.5 million OMR (45.3 million USD) as at 30 September 2019 to 21.8 million OMR (56.4 million USD) a year later.

The net profit grew by 51% to reach 1.1 million OMR (2.8 million USD) against 725 300 OMR (1.878 million USD) a year earlier.

As at 30 September 2020, the reinsurer's investment income improved by 27% to 1.4 million OMR (3.6 million USD). The company's shareholders' equity amounted to 24.4 million OMR (63.2 million USD). The combined ratio gained 1.8 point to reach 97.6%.

Read also | Top 10 insurers in Oman [4]

Wed, 21/10/2020 - 14:58

Source URL: https://www.atlas-mag.net/en/article/oman-re-results-as-at-30-september-2020

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