Oman Insurance Market Review Reveals 18% GI Premium Increase

Total direct premium of the GI sector increased from OMR167m in 2008 to OMR197.5m in 2009.
The report, published by the Capital Market Authority, shows national insurance companies’ share in total direct GI premium stood at 79 per cent, or OMR155.9m.

Mega Projects Spur Mideast Insurance Growth

Huge investment in mega projects throughout the Middle East has spurred growing demand for insurance policies, a leading financial expert has claimed. While addressing delegates at the inaugural World Space Risk Forum in Dubai on Tuesday, Ahmed Humaid Al Tayer, Governor of the Dubai International Financial Centre, said: “The region’s huge programme of infrastructure spending on energy, water, transportation and petrochemicals is creating mega projects that require insurance and reinsurance services.”