Fitch upgrades Oman Re's rating

Fitch Ratings has upgraded Oman Re’s financial strength rating to ‘BBB’ from ‘BBB-’, with a stable outlook.

The upgrade reflects reduced investment and asset risks following the improvement in the Sultanate of Oman’s sovereign rating.

It also takes into account the reinsurer’s strong capitalization, solid financial performance, robust risk management framework, and diversified business portfolio.