Insurance firms in Oman reach OMR135mn premium income in Q1
24 Sep 2017
(MENAFN) Oman’s insurance firms have reached a 3 percent increase in gross direct premium at OMR134.7mn in the Jan-March period of the year, against OMR131mn in 2016.
Furthermore, the Omani insurance market continued posting increase rates compared to the economic situation despite the fiscal measures taken to mitigate the impact of the falling oil prices.
Additionally, the increase in insurance premiums was spurred by positive turnout for individual life insurance products and health insurance and other insurance products.
In the cited period, health insurance posted good rates of increase by more than 26 percent compared to the same period of 2016.