15 February 2016
Muscat - The unaudited financial statements of the Capital Market Authority show that the insurance sector in the Sultanate has posted growth in the gross premium written in 2015. The underwritten direct premium stood at RO 446 million, a growth by 11 percent compared to 2014 which was RO 400 million. The data showed that health insurance continued its growth and came on top of the other products in terms of growth rates, which stood at 30 percent in 2015 compared to 2014. The auto insurance topped the list of other insurance with 37 percent growth rate. Meanwhile, the transport and liability insurances declined by 22 percent and 15 per cent respectively in 2015 compared to 2014 due to the reduction in public expenditure by public and private sectors on the back of oil prices slump.
Muscat - The unaudited financial statements of the Capital Market Authority show that the insurance sector in the Sultanate has posted growth in the gross premium written in 2015. The underwritten direct premium stood at RO 446 million, a growth by 11 percent compared to 2014 which was RO 400 million. The data showed that health insurance continued its growth and came on top of the other products in terms of growth rates, which stood at 30 percent in 2015 compared to 2014. The auto insurance topped the list of other insurance with 37 percent growth rate. Meanwhile, the transport and liability insurances declined by 22 percent and 15 per cent respectively in 2015 compared to 2014 due to the reduction in public expenditure by public and private sectors on the back of oil prices slump.
© Oman Daily Observer 2016
