Oman Re [4] has recorded, in local currency, a 20% increase in its half-yearly turnover. Written premiums have reached 21.9 million OMR (56.7 million USD) as at 30 June 2022 compared to the 18.2 million OMR (47.14 million USD) recorded during the same period of 2021.
In H1 2022, the gross underwriting margin improved by 33% to reach 1.6 million OMR (4.1 million USD). The combined ratio has progressed by 1.4 points to stand at 96.2%.
As for the investment income, it went up by 10% to become 1.1 million OMR (2.8 million USD) during the first six months of 2022.
During the period under review, the Omani reinsurer [4] has posted a net profit of 673 000 OMR (1.74 million USD), representing a 0.6% increase compared to the 669 000 OMR (1.73 million USD) posted at the end of June 2021.