Omani insurance market: results 2020

The Capital Market Authority (CMA) says the Omani insurance market recorded a 4.3% turnover decline in 2020.

Direct premiums dropped from 486.582 million OMR (1.26 billion USD) in 2019 to 465.895 million OMR (1.207 billion USD) in 2020.

Non-life premiums amounted to 412.143 million OMR (1.067 billion USD) against 53.752 million OMR (139.26 million USD) for life insurance.

As of 31 December 2020, insurers reported a net profit worth 48.539 million OMR (125.7 million USD). This stands for a 35% growth compared to 35.921 million OMR (93.06 million USD) recorded by late 2019.