The largest segment of Oman’s insurance sector, auto policies account for two-fifths of premium income. This line of business is arguably the most important one in the sector and has been singled out for extra attention under the effort of government agencies to improve road safety and reduce risk for insurers. This includes more data collection...
Boosting economic integration among the Gulf states has been a key component of the GCC since the organisation was established in late May 1981. Indeed, while the six countries that make up the GCC – namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE – have implemented joint projects in a wide variety of sectors, economic cooperation...
For years the Muscat Securities Market (MSM) has been a small, but stable and growing bourse. Oman’s government and corporations are typically well financed on their own, and therefore access to capital has not been a driving factor helping to increase the size and ease of trading in formal capital markets such as the MSM. Authorities...
Supporting small and medium-sized enterprises (SMEs) is near the top of the agenda for Oman’s government, as they are seen as a crucial element in the long-term goal of enlarging the private sector and creating jobs within it for Omanis. The sultanate’s leadership recognises that these grassroots businesses are key drivers of economic...
A regional leader in the liberalisation and privatisation of its power and water utilities, Oman promotes 100% non-government ownership of generation assets. Its independent power, water, and water and power plants (IPPs, IWPs and IWPPs) are models for private investment and have brought in foreign players with the technology and capital to...
Legislation is likely to drive development in Oman’s insurance sector in 2014 and beyond. A new insurance law will update the existing legislation, with the biggest impacts expected to come from a new minimum requirement for paid-up capital that could trigger consolidation in the sector and also from a rule mandating that any new licensee must...
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