Falcon Insurance will be listed

Falcon Insurance will make its entry to Muscat stock market in 2016. The company which is owned at 51% by the group Al Anwar had announced last June its intention to proceed with the opening of its capital to public bids pending the approval of the regulators and shareholders. The insurer is, therefore, complying with the new legal provisions requiring that each local insurer be listed in the stock market.

Out of the 11 Omani insurance companies, only four are currently respecting this provision. Falcon Insurance should also comply with another legal requirement by increasing capital whose minimum required has been set at 10 million OMR (26 million USD).