Insurance

With a steady stream of new entrants in the past decade and growth from a small base, Oman’s insurance market is a competitive one. Several factors are boosting the industry, with sharia-compliant lines of insurance looking set to enhance the sector’s potential and automobile coverage boosted by record vehicle sales. Further to this, the sultanate’s infrastructure spending is combining with job growth to present an opportunity significant enough to attract multiple new entrants the market, further adding to competition. However, as the government considers mandating health coverage, there is still potential in the market. This chapter contains an interview with Lloyd East, CEO, Al Ahlia Insurance and Board Member, Oman Insurance