Oman insurance market expanding
Oman's Capital Market Authority (CMA) has recently published a detailed statistical book on insurance market indicators in the Sultanate 2003-2004.
The book showed that the total value of insurance companies assets rose by 13.7% from RO. 154.3 million in 2003 to RO. 175.4 million in 2004. General Insurance installments rose to RO. 87.1 million in 2004, compared to RO. 83.9 million in 2003. Life insurance installments amounted to RO. 15.7 million in 2004, against RO. 14.6 million in 2003.
According to the book, insurance companies investments stood at RO. 127.85 million in 2004 compared to RO. 110.99 million in 2003. Insurance companies issued 486,091 insurance documents in 2004 against 448,045 documents in 2003, constituting an 8.8% rise. The vale of reimbursements fell by 52.3% to RO. 38.13 million in 2004 against RO. 79.85 million in 2003.