Recent global developments have underscored the growing importance of marine insurance and war risk coverage, placing new pressures on the insurance sector, according to a senior official of the Financial Services Authority (FSA).
Oman Re, the Sultanate's sole reinsurer, has reported a strong financial performance for the first quarter ended 31 March 2026, underpinned by disciplined underwriting, sustained premium growth and prudent investment strategies.
The combined profit after tax of the eight listed companies surged by 414% to OMR34m ($88.5m) from 2025 from OMR6.6m in 2024, according to an update by BADRI Management Consultancy.
1Q2026 signals a strong and confident start to the year for Oman's insurance sector, building on the recovery momentum established in 2025 while introducing a sharper contrast in profitability across market players, according to BADRI Management Consultancy, an international actuarial and risk consulting company.
Oman's Financial Services Authority (FSA) has verified that the Unified Motor Vehicle Insurance Policy for Comprehensive and Third Party Coverage provides protection for damages resulting from natural disasters, including hail, wadis, storms and cyclones.
Preliminary data released by the Financial Services Authority (FSA) show a notable increase of 13.2% in the number of serious accidents in 2025, compared to 2024, reflecting a shift toward more serious incidents in the Sultanate.
The Financial Services Authority (FSA) has reviewed the key challenges related to insuring industrial facilities during a dialogue session with stakeholders, including insurance companies and owners of industrial companies.
The Financial Services Authority (FSA) has issued a decision approving rules for actuarial firms, as are embodied in the "Regulation for Actuarial Services Firms".
Howden has announced leadership appointments and regional structure changes to better serve clients and insurer partners. According to a statement from the firm, these changes will more closely align expertise and shape the business to bring all of its growing capabilities and talent to clients across regional borders.
Oman's insurance sector has demonstrated stable performance over the past five years, including reporting satisfactory growth in 2025, said the Financial Services Authority (FSA) Vice Executive President Ahmed Bin Ali Al Maamari.