Complex Made Simple

Oman Insurance Company posts strong growth in 2013

Oman Insurance Company (P.S.C.) (OIC) reported a gross written premium of Dhs2.9bn for the financial year 2013 which is up 19.5% over prior year.

The net profitability remains strong at Dhs246m and the total assets of the company exceeded Dhs5bn, which highlights the financial stability of OIC.

With these results, OIC reinforces its market leadership position in the regional insurance sector. The published figures are the results of the company’s pursuit of strong insurance operations guided by clear strategies.

OIC’s regional expansion has also produced positive results with Turkey showing a rapid turnaround with profits in 2013. Oman and Qatar operations have also performed well. As part of this strategy, OIC has recently started medical TPA operations in Iraq and is looking at new markets via facultative reinsurance and strategic alliances.

“With the constant support of our Board, OIC’s team continues to deliver a great performance, in line with our defined strategies. The company’s worth is steadily increasing and we all look forward to reaching higher targets and recognition, in 2014”, said Patrick Choffel, CEO.

For more information please contact:
Zulfiquar Ali
Senior Marketing Manager
Oman Insurance Company (P.S.C.)
Tel: +971 4 233 7701 / 050 9153515