There is growing recognition of the importance of financial security in the workplace in the GCC, with the average age of those with income protection falling to 41 from 51 over the last three years, according to Zurich International Life Insurance Middle East, a subsidiary of Zurich Insurance Group.
GIG Gulf has achieved a landmark milestone in Oman, becoming one of the first insurers to be awarded a Category 'A' licence by the Financial Services Authority (FSA), the company announced on its X account.
Fitch Ratings has revised the outlook on Oman Reinsurance Company's Insurer Financial Strength (IFS) Rating to 'Positive' from 'Stable' and affirmed the IFS rating at 'BBB-'.
Rising costs, increased climate-related claims, and aggressive pricing strategies are putting pressure on margins across the industry, says Badri Management Consultancy, an international company specialising in actuarial and management consulting services.
The Financial Services Authority (FSA) has issued a circular to the CEOs and general managers of insurance and takaful companies pressing home the message that they cannot refuse to insure electric vehicles (EVs) or renew the motor policy as long as the vehicle satisfies the stipulations stated in the Traffic Law.
Oman Re, the sole national reinsurer of Oman, has reported significant growth in the first quarter of 2025, demonstrating a strong start to the fiscal year.
The Financial Services Authority (FSA) has launched the National Health Insurance Platform (Dhamani), a digital channel to regulate the Omani health insurance market and facilitate operations in the market.
Oman's Financial Services Authority (FSA) has issued warnings to two insurers for failing to comply with the rules covering the retention of net health insurance premiums within the Sultanate.
Oman Re, the Sultanate's first and only reinsurer, has announced a robust increase in its reinsurance revenue, reaching OMR49.9m ($129.8m) for the fiscal year ended 31 December 2024 (FY2024).
The GCC healthcare industry is poised for strong growth driven by macro-economic factors, the expansion of mandatory health insurance and a growing and ageing population, according to UAE-based Alpen Capital, an investment banking advisory firm.