Insurance
From The Report: Oman 2018
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The Omani insurance market has witnessed robust growth in recent years, which has helped gradually boost penetration rates. As in many countries, compulsory motor insurance has long been the leading branch in the sector, but previously underdeveloped segments, including life and health, are now expanding rapidly; the former has seen significant gains as foreign insurers expand their presence, while the latter is set to receive a further boost as the obligation for private companies to provide health coverage for their employees is enforced. Additionally, new regulations have been implemented for companies and brokers, which should contribute to confidence in the sector.

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Overview

Ready to rebound: Growth likely to accelerate as sector adapts to changes
OBG
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The Omani insurance market has witnessed robust growth in recent years, which has helped gradually boost penetration rates. As in many countries, compulsory motor insurance has long been the leading branch in the sector, but previously underdeveloped segments including life and health are now expanding rapidly; the former has seen significant gains as foreign insurers expand their presence, while the latter is set to receive a further boost as the obligation for private companies to provide…

Analysis

A healthy move: Hopes are high as legally mandated coverage is enforced
OBG
plus

In August 2017 the Ministry of Health announced that private sector companies would be obliged to begin providing insurance for their employees starting in 2018. The move has set up the health coverage market, which has expanded in recent years, to generate even faster top-line growth. Speaking to OBG in January 2018, the regulator, the Capital Market Authority (CMA), expressed confidence that the move would increase penetration and enhance medical service quality. However, insurance companies…