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The Insurance Industry in Oman, Key Trends and Opportunities to 2022

The Insurance Industry in Oman, Key Trends and Opportunities to 2022

Publishing Date : Sep, 2018

License Type :
 

Report Code : 1304994

No of Pages : 143

Synopsis
The Insurance Industry in Oman, Key Trends and Opportunities to 2022

Summary

GlobalData’s 'The Insurance Industry in Oman, Key Trends and Opportunities to 2022' report provides detailed analysis of the market trends, drivers and challenges in the Omani insurance industry.

It provides key performance indicators such as written premium and claims during the review period (2013-2017) and forecast period (2017-2022).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Omani economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Inside this report, we look at the top themes, its predictions and identify winners and losers.

The report provides in-depth market analysis, information and insights into the Omani insurance industry, including -
- The Omani insurance industry's growth prospects by segment and category
- A comprehensive overview of the Omani economy and demographics
- Details of the competitive landscape in the Omani insurance industry
- The various distribution channels in the Omani insurance industry
- Details of regulatory policy applicable to the Omani insurance industry
- Analysis of natural hazards in the Omani insurance industry

Key Highlights

- In May 2018, the CMA organized a workshop for the implementation of IFRS 17 on issuing insurance contracts.
- As of 2017, there were two domestic reinsurers operating in the country: Oman Re and Trust Re.
- On November 8, 2016, the Oman Chamber of Commerce and Industry issued a notice to all private companies to provide compulsory health insurance to their employees.
- In 2016, the CMA and the College of Banking and Financial Studies (CBFS) signed a contract to train Omani employees in the insurance industry.

Scope

- This report provides a comprehensive analysis of the insurance industry in Oman.
- It provides historical values for the Omani insurance industry for the report’s 2013-2017 review period, and projected figures for the 2017-2022 forecast period.
- It offers a detailed analysis of the key segments in the Omani insurance industry, with market forecasts to 2022.
- It covers an exhaustive list of parameters, including written premium and claims.
- It analyzes the various distribution channels in Oman.
- It profiles the top insurance companies in Oman, and outlines the key regulations affecting them.

Reasons to buy

- Make strategic business decisions using in-depth historic and forecast market data related to the Omani insurance industry and each segment and category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Omani insurance industry.
- Assess the competitive dynamics in the Omani insurance industry.
- Identify the growth opportunities and market dynamics in key segments.
- Gain insights into key regulations governing the Omani insurance industry and their impact on companies and the industry's future.

Companies Mentioned
National Life Insurance and General
Dhofar Insurance
Oman United Insurance
Al Madina Takaful
Al Ahlia Insurance
The New India Assurance Company
Oman & Qatar Insurance
Axa Insurance
Muscat Insurance Company SAOG
Vision Insurance

Geographical Area
Oman
Index
Table of Contents
1 KEY FACTS AND HIGHLIGHTS 2
2 EXECUTIVE SUMMARY 3
3 ECONOMY AND DEMOGRAPHICS 14
4 INDUSTRY OUTLOOK 22
4.1 Industry Indicators 23
4.1.1 Gross written premium 23
4.1.2 Direct written premium 24
4.1.3 Insurance density 25
4.1.4 Active policies 26
4.1.5 Paid claims 27
5 LIFE INSURANCE OUTLOOK 28
5.1 Segment Indicators 29
5.1.1 Gross written premium 29
5.1.2 Direct written premium 30
5.1.3 Active policies 31
5.1.4 Paid claims 32
5.1.5 Penetration 33
5.1.6 Assets and investments 34
5.2 Individual Life Insurance 35
5.2.1 Gross written premium 35
5.2.2 Active policies 36
5.2.3 Penetration 37
5.3 Group Life Insurance 38
5.3.1 Gross written premium 38
5.3.2 Active policies 39
5.3.3 Penetration 40
6 GENERAL INSURANCE OUTLOOK 41
6.1 Segment Indicators 42
6.1.1 Gross written premium 42
6.1.2 Direct written premium 43
6.1.3 Active policies 44
6.1.4 Paid claims 45
6.1.5 Penetration 46
6.1.6 Loss ratio 47
6.1.7 Assets and investments 48
6.2 Property Insurance 49
6.2.1 Gross written premium 49
6.2.2 Active policies 50
6.2.3 Penetration 51
6.2.4 Claims 52
6.2.5 Profitability 53
6.3 Motor Insurance 54
6.3.1 Gross written premium 54
6.3.2 Active policies 55
6.3.3 Penetration 56
6.3.4 Claims 57
6.3.5 Profitability 58
6.4 Liability Insurance 59
6.4.1 Gross written premium 59
6.4.2 Active policies 60
6.4.3 Penetration 61
6.4.4 Claims 62
6.4.5 Profitability 63
6.5 Marine, Aviation and Transit Insurance 64
6.5.1 Gross written premium 64
6.5.2 Active policies 65
6.5.3 Penetration 66
6.5.4 Claims 67
6.5.5 Profitability 68
6.6 Personal Accident and Health Insurance 69
6.6.1 Gross written premium 69
6.6.2 Active policies 70
6.6.3 Penetration 71
6.6.4 Claims 72
6.6.5 Profitability 73
6.7 Miscellaneous 74
6.7.1 Gross written premium 74
6.7.2 Active policies 75
6.7.3 Penetration 76
6.7.4 Claims 77
6.7.5 Profitability 78
7 REINSURANCE OUTLOOK 79
7.1 Premium Ceded 80
8 DISTRIBUTION CHANNEL OUTLOOK 83
9 NATURAL AND MAN-MADE HAZARDS 85
9.1 Flooding 85
9.2 Storms 85
9.3 Epidemics 85
9.4 Exposure 86
10 COMPETITIVE LANDSCAPE 87
10.1 Company Profiles 91
10.1.1 National Life & General Insurance Company - company overview 91
10.1.2 Dhofar Insurance Company - company overview 91
10.1.3 Oman United Insurance Company - company overview 91
10.1.4 Al Madina Insurance Company SAOG - company overview 91
10.1.5 Al Ahlia Insurance Company - company overview 92
11 GOVERNANCE, RISK AND COMPLIANCE 93
11.1 Legislation Overview and Historical Evolution 94
11.2 Latest Changes in Regulation 95
11.3 Legislation and Market Practice by Type of Insurance 99
11.3.1 Life Insurance 99
11.3.2 Property Insurance 100
11.3.3 Motor Insurance 102
11.3.4 Liability insurance 105
11.3.5 Marine, aviation and transit insurance 105
11.3.6 Personal accident and health insurance 105
11.4 Compulsory Insurance 107
11.4.1 Motor third party liability insurance 107
11.4.2 Workers’ compensation insurance 107
11.5 Supervision and Control 109
11.5.1 International Association of Insurance Supervisors 109
11.5.2 Capital Market Authority 110
11.5.3 Oman Insurance Association 110
11.6 Non-Admitted Insurance Regulation 111
11.6.1 Overview 111
11.6.2 Intermediaries 111
11.6.3 Market practices 111
11.6.4 Fines and Penalties 111
11.7 Company Registration and Operations 112
11.7.1 Type of insurance organization 112
11.7.2 Establishing a local company 113
11.7.3 Foreign ownership 113
11.7.4 Types of license 114
11.7.5 Capital requirements 115
11.7.6 Solvency margin 115
11.7.7 Reserve requirements 115
11.7.8 Investment regulations 116
11.7.9 Statutory return requirements 117
11.7.10 Fee structure 117
11.8 Taxation 118
11.8.1 Insurance premium or policy taxation 118
11.8.2 Withholding taxes on premium paid overseas 118
11.8.3 Corporate tax 118
11.8.4 VAT 119
11.8.5 Captives 119
11.9 Legal System 120
11.9.1 Introduction 120
11.9.2 Access to court 120
11.9.3 Alternative dispute resolution (ADR) 121
12 DATABOOK 122
12.1 Life Insurance 122
12.1.1 Policies and premium 122
12.1.2 Claims and expenses 123
12.1.3 Assets and investments 123
12.1.4 Individual life insurance 124
12.1.5 Group life insurance 124
12.2 General Insurance 125
12.2.1 Policies and premium 125
12.2.2 Claims and expenses 126
12.2.3 Assets and investments 126
12.2.4 Property insurance 127
12.2.5 Property insurance by category 128
12.2.6 Motor insurance 129
12.2.7 Motor insurance by category 130
12.2.8 Liability insurance 131
12.2.9 Marine, aviation and transit insurance 132
12.2.10 Marine, aviation and transit Insurance by category 133
12.2.11 Personal accident and health insurance 134
12.2.12 Personal accident and health insurance by category 135
12.2.13 Miscellaneous 136
13 DEFINITIONS AND METHODOLOGY 137
13.1 Definitions 137
13.2 Methodology 139
14 ABOUT GLOBALDATA 141
14.1 Contact GlobalData 141
14.2 About GlobalData 141
14.3 GlobalData’s Services 142
14.4 Disclaimer 143
List of Tables
List of Tables
Table 1: Omani Insurance Industry - Key Facts, 2017 2
Table 2: Omani Insurance Industry - Industry Shares of the Top Insurers, 2017 2
Table 3: Omani Government Credit Ratings 16
Table 4: Omani Insurance Industry - Gross Written Premium (OMR Million and US$ Billion), 2013-2017 23
Table 5: Omani Insurance Industry - Gross Written Premium (OMR Million and US$ Billion), 2017-2022 23
Table 6: Omani Insurance Industry - Direct Written Premium (OMR Million and US$ Billion), 2013-2017 24
Table 7: Omani Insurance Industry - Direct Written Premium (OMR Million and US$ Billion), 2017-2022 24
Table 8: Omani Insurance Industry - Density (OMR), 2013-2017 25
Table 9: Omani Insurance Industry - Density (OMR), 2017-2022 25
Table 10: Omani Insurance Industry - Number of Active Policies (Million), 2013-2017 26
Table 11: Omani Insurance Industry - Number of Active Policies (Million), 2017-2022 26
Table 12: Omani Insurance Industry - Paid Claims (OMR Million and US$ Million), 2013-2017 27
Table 13: Omani Insurance Industry - Paid Claims (OMR Million and US$ Million), 2017-2022 27
Table 14: Omani Life Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 29
Table 15: Omani Life Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 29
Table 16: Omani Life Insurance - Direct Written Premium (OMR Million and US$ Million), 2013-2017 30
Table 17: Omani Life Insurance - Direct Written Premium (OMR Million and US$ Million), 2017-2022 30
Table 18: Omani Life Insurance - Number of Active Policies (Thousand), 2013-2017 31
Table 19: Omani Life Insurance - Number of Active Policies (Thousand), 2017-2022 31
Table 20: Omani Life Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 32
Table 21: Omani Life Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 32
Table 22: Omani Life Insurance - Total Assets (OMR Million and US$ Million), 2013-2017 34
Table 23: Omani Life Insurance - Total Assets (OMR Million and US$ Million), 2017-2022 34
Table 24: Omani Individual Life Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 35
Table 25: Omani Individual Life Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 35
Table 26: Omani Individual Life Insurance - Number of Active Policies (Thousand), 2013-2017 36
Table 27: Omani Individual Life Insurance - Number of Active Policies (Thousand), 2017-2022 36
Table 28: Omani Group Life Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 38
Table 29: Omani Group Life Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 38
Table 30: Omani Group Life Insurance - Number of Active Policies (Thousand), 2013-2017 39
Table 31: Omani Group Life Insurance - Number of Active Policies (Thousand), 2017-2022 39
Table 32: Omani General Insurance - Gross Written Premium (OMR Million and US$ Billion), 2013-2017 42
Table 33: Omani General Insurance - Gross Written Premium (OMR Million and US$ Billion), 2017-2022 42
Table 34: Omani General Insurance - Direct Written Premium (OMR Million and US$ Billion), 2013-2017 43
Table 35: Omani General Insurance - Direct Written Premium (OMR Million and US$ Billion), 2017-2022 43
Table 36: Omani General Insurance - Number of Active Policies (Million), 2013-2017 44
Table 37: Omani General Insurance - Number of Active Policies (Million), 2017-2022 44
Table 38: Omani General Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 45
Table 39: Omani General Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 45
Table 40: Omani General Insurance - Total Assets (OMR Million and US$ Billion), 2013-2017 48
Table 41: Omani General Insurance - Total Assets (OMR Million and US$ Billion), 2017-2022 48
Table 42: Omani Property Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 49
Table 43: Omani Property Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 49
Table 44: Omani Property Insurance - Number of Active Policies (Thousand), 2013-2017 50
Table 45: Omani Property Insurance - Number of Active Policies (Thousand), 2017-2022 50
Table 46: Omani Property Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 52
Table 47: Omani Property Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 52
Table 48: Omani Property Insurance - Loss Ratio (%), 2013-2017 53
Table 49: Omani Property Insurance - Loss Ratio (%), 2017-2022 53
Table 50: Omani Motor Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 54
Table 51: Omani Motor Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 54
Table 52: Omani Motor Insurance - Number of Active Policies (Million), 2013-2017 55
Table 53: Omani Motor Insurance - Number of Active Policies (Million), 2017-2022 55
Table 54: Omani Motor Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 57
Table 55: Omani Motor Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 57
Table 56: Omani Motor Insurance - Loss Ratio (%), 2013-2017 58
Table 57: Omani Motor Insurance - Loss Ratio (%), 2017-2022 58
Table 58: Omani Liability Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 59
Table 59: Omani Liability Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 59
Table 60: Omani Liability Insurance - Number of Active Policies (Thousand), 2013-2017 60
Table 61: Omani Liability Insurance - Number of Active Policies (Thousand), 2017-2022 60
Table 62: Omani Liability Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 62
Table 63: Omani Liability Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 62
Table 64: Omani Liability Insurance - Loss Ratio (%), 2013-2017 63
Table 65: Omani Liability Insurance - Loss Ratio (%), 2017-2022 63
Table 66: Omani Marine, Aviation and Transit Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 64
Table 67: Omani Marine, Aviation and Transit Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 64
Table 68: Omani Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2013-2017 65
Table 69: Omani Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2017-2022 65
Table 70: Omani Marine, Aviation and Transit Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 67
Table 71: Omani Marine, Aviation and Transit Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 67
Table 72: Omani Marine, Aviation and Transit Insurance - Loss Ratio (%), 2013-2017 68
Table 73: Omani Marine, Aviation and Transit Insurance - Loss Ratio (%), 2017-2022 68
Table 74: Omani Personal Accident and Health Insurance - Gross Written Premium (OMR Million and US$ Million), 2013-2017 69
Table 75: Omani Personal Accident and Health Insurance - Gross Written Premium (OMR Million and US$ Million), 2017-2022 69
Table 76: Omani Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2013-2017 70
Table 77: Omani Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2017-2022 70
Table 78: Omani Personal Accident and Health Insurance - Paid Claims (OMR Million and US$ Million), 2013-2017 72
Table 79: Omani Personal Accident and Health Insurance - Paid Claims (OMR Million and US$ Million), 2017-2022 72
Table 80: Omani Personal Accident and Health Insurance - Loss Ratio (%), 2013-2017 73
Table 81: Omani Personal Accident and Health Insurance - Loss Ratio (%), 2017-2022 73
Table 82: Omani Miscellaneous - Gross Written Premium (OMR Million and US$ Million), 2013-2017 74
Table 83: Omani Miscellaneous - Gross Written Premium (OMR Million and US$ Million), 2017-2022 74
Table 84: Omani Miscellaneous - Number of Active Policies (Thousand), 2013-2017 75
Table 85: Omani Miscellaneous - Number of Active Policies (Thousand), 2017-2022 75
Table 86: Omani Miscellaneous - Paid Claims (OMR Million and US$ Million), 2013-2017 77
Table 87: Omani Miscellaneous - Paid Claims (OMR Million and US$ Million), 2017-2022 77
Table 88: Omani Miscellaneous - Loss Ratio (%), 2013-2017 78
Table 89: Omani Miscellaneous - Loss Ratio (%), 2017-2022 78
Table 90: Omani Reinsurance - Premium Ceded by Insurance Segment (OMR Million), 2013-2017 80
Table 91: Omani Reinsurance - Premium Ceded by Insurance Segment (OMR Million), 2017-2022 80
Table 92: Omani Insurance Industry - Market Shares of Leading Insurers (%), 2017 88
Table 93: Omani Life Insurance Segment - Market Shares of Leading Insurers (%), 2017 89
Table 94: Omani General Insurance Segment - Market Shares of Leading Insurers (%), 2017 90
Table 95: National Life & General Insurance Company - Key Facts 91
Table 96: Dhofar Insurance Company - Key Facts 91
Table 97: Oman United Insurance Company - Key Facts 91
Table 98: Al Madina Insurance Company SAOG - Key Facts 92
Table 99: Al Ahlia Insurance Company - Key Facts 92
Table 100: Oman - Insurance Regulatory Framework Key Features 93
Table 101: Oman - Life Insurance Regulatory Framework 99
Table 102: Oman - Property Insurance Regulatory Framework 100
Table 103: Oman - Motor Insurance Regulatory Framework 102
Table 104: Oman - No-Claims Discount Percentages for Comprehensive and Third-Party Insurance 103
Table 105: Oman - Liability Insurance Regulatory Framework 105
Table 106: Oman - Corporate Tax Rates for the Financial Year 2018 118
Table 107: Omani Life Insurance - Policies and Premium, 2013-2017 122
Table 108: Omani Life Insurance - Policies and Premium, 2017-2022 122
Table 109: Omani Life Insurance - Claims and Expenses, 2013-2017 123
Table 110: Omani Life Insurance - Claims and Expenses, 2017-2022 123
Table 111: Omani Life Insurance - Assets and Investments, 2013-2017 123
Table 112: Omani Life Insurance - Assets and Investments, 2017-2022 123
Table 113: Omani Life Insurance - Individual Life Insurance, 2013-2017 124
Table 114: Omani Life Insurance - Individual Life Insurance, 2017-2022 124
Table 115: Omani Life Insurance - Group Life Insurance, 2013-2017 124
Table 116: Omani Life Insurance - Group Life Insurance, 2017-2022 124
Table 117: Omani General Insurance - Policies and Premium, 2013-2017 125
Table 118: Omani General Insurance - Policies and Premium, 2017-2022 125
Table 119: Omani General Insurance - Claims and Expenses, 2013-2017 126
Table 120: Omani General Insurance - Claims and Expenses, 2017-2022 126
Table 121: Omani General Insurance - Assets and Investments, 2013-2017 126
Table 122: Omani General Insurance - Assets and Investments, 2017-2022 126
Table 123: Omani General Insurance - Property Insurance, 2013-2017 127
Table 124: Omani General Insurance - Property Insurance, 2017-2022 127
Table 125: Omani General Insurance - Property Insurance by Category, 2013-2017 128
Table 126: Omani General Insurance - Property Insurance by Category, 2017-2022 128
Table 127: Omani General Insurance - Motor Insurance, 2013-2017 129
Table 128: Omani General Insurance - Motor Insurance, 2017-2022 129
Table 129: Omani General Insurance - Motor Insurance by Category, 2013-2017 130
Table 130: Omani General Insurance - Motor Insurance by Category, 2017-2022 130
Table 131: Omani General Insurance - Liability Insurance, 2013-2017 131
Table 132: Omani General Insurance - Liability Insurance, 2017-2022 131
Table 133: Omani General Insurance - Marine, Aviation and Transit Insurance, 2013-2017 132
Table 134: Omani General Insurance - Marine, Aviation and Transit Insurance, 2017-2022 132
Table 135: Omani General Insurance - Marine Aviation and Transit Insurance by Category, 2013-2017 133
Table 136: Omani General Insurance - Marine Aviation and Transit Insurance by Category, 2017-2022 133
Table 137: Omani General Insurance - Personal Accident and Health Insurance, 2013-2017 134
Table 138: Omani General Insurance - Personal Accident and Health Insurance, 2017-2022 134
Table 139: Omani General Insurance - Personal Accident and Health Insurance by Category, 2013-2017 135
Table 140: Omani General Insurance - Personal Accident and Health Insurance by Category, 2017-2022 135
Table 141: Omani General Insurance - Miscellaneous, 2013-2017 136
Table 142: Omani General Insurance - Miscellaneous, 2017-2022 136
Table 143: Insurance Industry Definitions 137

List of Figures
List of Figures
Figure 1: Omani Real GDP (OMR Billion), 2013-2022 15
Figure 2: Omani Exchange Rate (OMR per US$), 2013-2022 17
Figure 3: Omani Consumer Price Inflation (%), 2013-2022 18
Figure 4: Omani Current Account Balance as Percentage of GDP (%), 2013-2022 19
Figure 5: Omani Unemployment Rate, 2013-2022 20
Figure 6: Omani Population by Age Group, 2013-2022 21
Figure 7: Omani Insurance Industry - Gross Written Premium (OMR Million), 2013-2022 23
Figure 8: Omani Insurance Industry - Direct Written Premium (OMR Million), 2013-2022 24
Figure 9: Omani Insurance Industry - Density (OMR), 2013-2022 25
Figure 10: Omani Insurance Industry - Number of Active Policies (Million), 2013-2022 26
Figure 11: Omani Insurance Industry - Paid Claims (OMR Million), 2013-2022 27
Figure 12: Omani Life Insurance - Gross Written Premium (OMR Million), 2013-2022 29
Figure 13: Omani Life Insurance - Direct Written Premium (OMR Million), 2013-2022 30
Figure 14: Omani Life Insurance - Number of Active Policies (Thousand), 2013-2022 31
Figure 15: Omani Life Insurance - Paid Claims (OMR Million), 2013-2022 32
Figure 16: Omani Life Insurance - Penetration (%), 2013-2017 33
Figure 17: Omani Life Insurance - Penetration (%), 2017-2022 33
Figure 18: Omani Life Insurance - Total Assets (OMR Million), 2013-2022 34
Figure 19: Omani Individual Life Insurance - Gross Written Premium (OMR Million), 2013-2022 35
Figure 20: Omani Individual Life Insurance - Number of Active Policies (Thousand), 2013-2022 36
Figure 21: Omani Individual Life Insurance - Penetration (%), 2013-2017 37
Figure 22: Omani Individual Life Insurance - Penetration (%), 2017-2022 37
Figure 23: Omani Group Life Insurance - Gross Written Premium (OMR Million), 2013-2022 38
Figure 24: Omani Group Life Insurance - Number of Active Policies (Thousand), 2013-2022 39
Figure 25: Omani Group Life Insurance - Penetration (%), 2013-2017 40
Figure 26: Omani Group Life Insurance - Penetration (%), 2017-2022 40
Figure 27: Omani General Insurance - Gross Written Premium (OMR Million), 2013-2022 42
Figure 28: Omani General Insurance - Direct Written Premium (OMR Million), 2013-2022 43
Figure 29: Omani General Insurance - Number of Active Policies (Million), 2013-2022 44
Figure 30: Omani General Insurance - Paid Claims (OMR Million), 2013-2022 45
Figure 31: Omani General Insurance - Penetration (%), 2013-2017 46
Figure 32: Omani General Insurance - Penetration (%), 2017-2022 46
Figure 33: Omani General Insurance - Loss Ratio (%), 2013-2017 47
Figure 34: Omani General Insurance - Loss Ratio (%), 2017-2022 47
Figure 35: Omani General Insurance - Total Assets (OMR Million), 2013-2022 48
Figure 36: Omani Property Insurance - Gross Written Premium (OMR Million), 2013-2022 49
Figure 37: Omani Property Insurance - Number of Active Policies (Thousand), 2013-2022 50
Figure 38: Omani Property Insurance - Penetration (%), 2013-2017 51
Figure 39: Omani Property Insurance - Penetration (%), 2017-2022 51
Figure 40: Omani Property Insurance - Paid Claims (OMR Million), 2013-2022 52
Figure 41: Omani Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (OMR Million and %), 2013-2022 53
Figure 42: Omani Motor Insurance - Gross Written Premium (OMR Million), 2013-2022 54
Figure 43: Omani Motor Insurance - Number of Active Policies (Million), 2013-2022 55
Figure 44: Omani Motor Insurance - Penetration (%), 2013-2017 56
Figure 45: Omani Motor Insurance - Penetration (%), 2017-2022 56
Figure 46: Omani Motor Insurance - Paid Claims (OMR Million), 2013-2022 57
Figure 47: Omani Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (OMR Million and %), 2013-2022 58
Figure 48: Omani Liability Insurance - Gross Written Premium (OMR Million), 2013-2022 59
Figure 49: Omani Liability Insurance - Number of Active Policies (Thousand), 2013-2022 60
Figure 50: Omani Liability Insurance - Penetration (%), 2013-2017 61
Figure 51: Omani Liability Insurance - Penetration (%), 2017-2022 61
Figure 52: Omani Liability Insurance - Paid Claims (OMR Million), 2013-2022 62
Figure 53: Omani Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (OMR Million and %), 2013-2022 63
Figure 54: Omani Marine, Aviation and Transit Insurance - Gross Written Premium (OMR Million), 2013-2022 64
Figure 55: Omani Marine, Aviation and Transit Insurance - Number of Active Policies (Thousand), 2013-2022 65
Figure 56: Omani Marine, Aviation and Transit Insurance - Penetration (%), 2013-2017 66
Figure 57: Omani Marine, Aviation and Transit Insurance - Penetration (%), 2017-2022 66
Figure 58: Omani Marine, Aviation and Transit Insurance - Paid Claims (OMR Million), 2013-2022 67
Figure 59: Omani Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (OMR Million and %), 2013-2022 68
Figure 60: Omani Personal Accident and Health Insurance - Gross Written Premium (OMR Million), 2013-2022 69
Figure 61: Omani Personal Accident and Health Insurance - Number of Active Policies (Thousand), 2013-2022 70
Figure 62: Omani Personal Accident and Health Insurance - Penetration (%), 2013-2017 71
Figure 63: Omani Personal Accident and Health Insurance - Penetration (%), 2017-2022 71
Figure 64: Omani Personal Accident and Health Insurance - Paid Claims (OMR Million), 2013-2022 72
Figure 65: Omani Personal Accident and Health Insurance - Earned Premium, Incurred Loss and Loss Ratio (OMR Million and %), 2013-2022 73
Figure 66: Omani Miscellaneous - Gross Written Premium (OMR Million), 2013-2022 74
Figure 67: Omani Miscellaneous - Number of Active Policies (Thousand), 2013-2022 75
Figure 68: Omani Miscellaneous - Penetration (%), 2013-2017 76
Figure 69: Omani Miscellaneous - Penetration (%), 2017-2022 76
Figure 70: Omani Miscellaneous - Paid Claims (OMR Million), 2013-2022 77
Figure 71: Omani Miscellaneous - Earned Premium, Incurred Loss and Loss Ratio (OMR Million and %), 2013-2022 78
Figure 72: Omani Reinsurance - Premium Ceded by Insurance Segment (OMR Million), 2013-2022 81
Figure 73: Omani Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2022 82
Figure 74: Omani General Insurance - Percentage of Reinsurance Ceded (%), 2013-2022 82
Figure 75: Omani Insurance Industry - Market Shares of Leading Insurers (%), 2017 88
Figure 76: Omani Life Insurance Segment - Market Shares of Leading Insurers (%), 2017 89
Figure 77: Omani General Insurance Segment - Market Shares of Leading Insurers (%), 2017 90
Figure 78: Oman - Insurance Supervision and Control at Various Levels 109
Figure 79: Oman - Insurance Regulatory Frameworks for Company Registration and Operation 112

Published By : GlobalData