Insurance

Oman Insurance

The insurance industry in Oman has grown strongly in recent years and now plays an important role in the domestic economy, rising from 0.9% of GDP in 2008 to 1.6% in 2015. Important regulatory changes made in 2015 and 2016, aimed at strengthening the industry’s capital base, promise to usher in a new era of expansion and to boost the amount of premiums retained within the local market. To grow, however, the nation’s insurers must first adjust to a potentially protracted low-oil-price environment and increasing levels of competition, both of which represent significant challenges.

Cover of The Report: Oman 2017

The Report

This chapter is from the Oman 2017 report. Explore other chapters from this report.