Category: Insurance

Insurance
CMA
Marginal growth

Most insurance segments have witnessed varying levels of fall, except health insurance and group life insurance which recorded an increase of 17 per cent and 25 per cent, respectively.    Omani insurance companies have achieved a marginal 0.3 per cent growth in direct gross insurance premium income at OMR358.16 million for the first three quarters […]

Insurance
ODB
Oman Development Bank finances 1,388 projects in Masirah

Oman Development Bank (ODB) has financed 1,388 projects in Masirah by extending funds worth OMR5.73 million between 2009 and September 2017. Youssef bin Ibrahim Al Shezawy, Regional director of ODB for South Al Sharqiyah, said that the number of micro-projects that were financed reached 1,315, with a total amount of OMR4.10 million, which represents 95 […]

Insurance
CEO S VENKATACHALAM
National Life and General Insurance to open branch in Kuwait

National Life and General Insurance (NLGIC) has obtained a licence for operations in Kuwait. This is the company’s second foray into countries outside Oman, said a company release. “We are glad to get this opportunity to do business in Kuwait. We would like to thank the Kuwait administration, as well as the Oman establishment, for […]

ECONOMY
CMA
Oman Qatar Insurance allots shares

Oman’s stock market watchdog Capital Market Authority has approved the allocation of Oman Qatar Insurance Company in accordance with an allocation policy. The shares are allocated to the small investors category at 100 per cent, while the second category of major investors are allocated 63.224 per cent on pro-rata basis. The total volume of shares […]

Insurance
National Life2
National Life’s IPO to open on October 22

National Life and General Insurance Company’s OMR21.2 million-Initial Public Offering will open for a one month subscription on October 22. The company is offering 66.25 million shares at an offer price of 320 baizas per share. As per the Capital Market Authority’s mandate, 65% of the IPO is reserved for retail investors and 35% is reserved […]

Insurance
Vision insurance
Vision acquires Dubai-based asset management firm

Vision Investment Services (Vision) has acquired A/T Capital Management (A/T Capital), an asset management firm based in the Dubai International Financial Centre (DIFC). A/T Capital was established in 2008 and invests in Middle Eastern equity markets, mainly for international institutional investors. A/T Capital has had a consistent track record of generating excess returns in regional […]

COMPANIES
CEO S VENKATACHALAM
National Life net profit soars 303 per cent

National Life and General Insurance Company (National Life), a leading composite insurer in Oman, said its profit after tax grew by 303 per cent toRO4.70mn for the first half of 2017, from RO1.16mn in the first half of 2016. Thus, National Life has already exceeded the net profit of the entire year of 2016. National Life […]

Insurance
NL chairman
Making a Mark

Anwar Hilal Hamdoon Al Jabri, Chairman of National Life & General Insurance Company talks about the company’s journey, milestones and future outlook   National Life is the largest composite insurance company in Oman. Can you highlight the growth of the company? National Life is one of the largest and fastest growing insurers in the insurance […]

Banking & Finance
Abdullah Tamman Al Maashani
Untapped potential

Life insurance penetration levels remain extraordinarily low in Oman and across the GCC region. However, the rise of the affluent and middle class with more purchasing power, a growing awareness of insurance products and the advent of sharia-compliant life insurance products are expected to boost the industry in the long run The wisdom of insurance […]