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Oman tag returned 130 results

  • Oman: Reinsurer's net profit jumps by 51% in first 9 months of 2020

    Oman Re, the sole reinsurer in the Sultanate of Oman, has reported net profit of OMR1.1m (2.8m) for the nine months ended 30 September 2020, representing a 51% rise compared to OMR725,000 for the corresponding period in 2019. Gross written premium increased by 25% to reach OMR21.8m in January-September 2010 against OMR17.5m for the same period in 2019.

    Middle East | 21 Oct 2020
  • Oman: VAT to be imposed wef April 2021

    Oman's ruler Sultan Haitham Bin Tarik has issued a decree for the Sultanate to start levying a 5% value added tax in six months' time, state-run Oman TV reported yesterday.

    Middle East | 13 Oct 2020
  • Oman: Listed insurers report 56% increase in combined profit in 1H

    The performance of the insurance industry in Oman in the first half of the year has been fairly robust in the face of the ongoing coronavirus pandemic, says a report published by Badri Management Consultancy.

    Middle East | 12 Oct 2020
  • Oman: Regulator directs insurers to extend loan cover to beyond age of 70 for retirees

    Omanis above 60 years of age will have their loan repayment periods rescheduled to their benefit, while borrowers aged 70 and above will still be eligible for health insurance, because of the effects of the COVID-19 pandemic, the Capital Market Authority (CMA) has announced.

    Middle East | 13 Sep 2020
  • Oman: Regulator eases insurers' overseas investment limit

    Oman's Capital Market Authority (CMA) has approved a revised regulation for insurance companies that will allow them to invest up to 30% of their investment portfolio abroad. Currently, the cap on investments overseas is 75%.

    Middle East | 01 Sep 2020
  • Oman: Reinsurer's net profit soars by 131.5% in 1H 2020

    Oman Re, the sole reinsurer operating in the Sultanate of Oman, has reported a net profit of OMR664,300 ($1.73m) for 1H2020, higher by 131.5% compared to OMR 286,900 during 1H2019, according to interim financial statements released by the company.

    Middle East | 13 Aug 2020
  • Oman: Impact of COVID-19 is manageable for reinsurer

    Fitch Ratings expects that the impact of the coronavirus pandemic on Oman Re is limited and manageable for the reinsurer due to the company's good capital position.

    Middle East | 29 Jul 2020
  • Oman: CMA issues regulations for health insurance TPAs

    The issuance of the licensing requirements for third party administrators (TPAs) represents an important move to enhance regulation of the health insurance sector in Oman, says the executive president of the Capital Market Authority (CMA), Abdullah Bin Salem Al Salmi.

    Middle East | 28 Jul 2020
  • Oman: 1st online insurance aggregator platform started

    Oman's first online insurance aggregator platform, Bima, was launched formally earlier this week, allowing customers the option of comparing and choosing insurance services from a variety of insurers.

    Middle East | 23 Jul 2020
  • Oman: New board of directors of reinsurer elected for 2020-2023

    Oman Re's shareholders have elected, at the annual general meeting, a new board of directors to serve for the period of 2020-2023.

    Middle East | 12 Jul 2020