Insurance

The Omani insurance market has witnessed robust growth in recent years, which has helped gradually boost penetration rates. As in many countries, compulsory motor insurance has long been the leading branch in the sector, but previously underdeveloped segments, including life and health, are now expanding rapidly; the former has seen significant gains as foreign insurers expand their presence, while the latter is set to receive a further boost as the obligation for private companies to provide health coverage for their employees is enforced. Additionally, new regulations have been implemented for companies and brokers, which should contribute to confidence in the sector.