Oman Re, the Sultanate of Oman's sole reinsurer, has announced strong financial results for the nine months ended 30 September 2025 (9M2025), recording a net profit after tax of OMR3.2m ($8.4m).
Reinsurance revenue reached OMR40.2m ($104.7m) in the first three quarters of this year (3Q2025). This represented an 8% increase compared to OMR37.4m reported in the corresponding period last year.
Gross written premiums rose to OMR49.5m in 3Q2025 from OMR 47.8 m in the corresponding nine-month period of 2024.
The company’s strong bottom-line performance was driven by a 226% surge in net reinsurance results, which climbed to OMR1.8m versus OMR549,000 a year earlier, highlighting continued improvements in underwriting quality and portfolio management.
Oman Re’s combined ratio improved by four percentage points, standing at 94.2% at 30 September 2025 compared to 98.2% 12 months previously, reflecting sound underwriting.
At the same time, net investment and other income rose by 23% year on year to OMR3.0m in 3Q2025, supported by a diversified and measured investment strategy.
As of 30 September 2025, the company’s net equity strengthened to OMR40.9m, increasing by 16% since December 2024, underscoring Oman Re’s robust capital position and commitment to sustainable growth.
Mr Romel Tabaja, CEO of Oman Re, said, “Our performance over the nine-month period reflects the strength of our disciplined underwriting practices and robust risk management framework. We have maintained a balanced portfolio while adhering to clear underwriting principles that prioritise quality over volume and Oman Re continues to demonstrate resilience amidst evolving market dynamics.”