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Omani insurance industry in 2019

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Magazine Issue: 
2020, the year of COVID-19 [3]
Magazine date: 
May 2020

Omani insurance industry in 2019: turnover per class of business

Figures in thousands
Class of business2019 turnover2018 turnover2018-2019 evolution *2019 shares
In OMRIn USDIn OMRIn USD
Health
170 108440 714152 299394 54911,69%34,96%
Motor
129 803336 292144 983375 596-10,47%26,68%
Property damage
57 845149 86448 690126 13718,80%11,89%
Engineering
23 02359 64814 63437 91157,33%4,73%
Marine
13 24834 32311 13328 84119,00%2,72%
Third party liability
11 20129 02011 80130 572-5,08%2,30%
Other risks
20 65253 50520 42452 9111,12%4,24%
Total non-life425 8801 103 366403 9641 046 5175,43%87,52%
Group insurance
36 63794 91840 903105 964-10,43%7,53%
Individual life insurance
24 06562 34818 72848 51728,50%4,95%
Total life60 702157 26659 631154 4811,80%12,48%
Grand total486 5821 260 632463 5951 200 9984,96%100%

Read also | Omani insurance market: results 2020 [4]

Omani insurance industry in 2019: premiums breakdown per class of business and per type of company

Figures in thousands
Class of businessNational insurance companiesForeign insurance companiesTotal market 2019
In OMRIn USDIn OMRIn USDIn OMRIn USD
Health
149 813388 13420 29552 580170 108440 714
Motor
110 816287 10118 98749 191129 803336 292
Property damage
50 905131 8846 94017 98057 845149 864
Engineering
19 00149 2284 02210 42023 02359 648
Marine
11 72230 3691 5263 95413 24834 323
Third party liability
8 94323 1702 2585 85011 20129 020
Other risks
16 14341 8234 50911 68220 65253 505
Total non-life367 343951 70958 537151 657425 8801 103 366
Group insurance
29 48076 3767 15718 54236 63794 918
Individual life insurance
5 42814 06318 63748 28524 06562 348
Total life34 90890 43925 79466 82760 702157 266
Grand total402 2511 042 14884 331218 484486 5821 260 632

Omani insurance industry in 2019: premiums breakdown per type of company

Figures in thousands
 2019 turnover2018 turnover2018-2019 evolution *2019 shares
OMRUSDOMRUSD
National insurance companies
402 2511 042 148380 287985 1795,78%82,67%
Foreign insurance companies
84 331218 48483 308215 8191,23%17,33%
Grand total486 5821 260 632463 5951 200 9984,96%100%

* Evolution in local currency

Read also | Top 10 Omani insurers in 2019 [5]

Oman
Tue, 11/08/2020 - 11:01

Source URL: https://www.atlas-mag.net/en/article/omani-insurance-industry-in-2019-0

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[3] https://www.atlas-mag.net/en/issue/2020-the-year-of-covid-19
[4] https://www.atlas-mag.net/en/article/omani-insurance-market-results-2020
[5] https://www.atlas-mag.net/en/article/omani-insurance-industry-top-10-insurers-in-2019