Oman Re: results 2019

Oman Re reported a turnover of 20.4 million OMR (53 million USD) at the end of December 2019. The net profit grew by 23.3% from 660 000 OMR (1.7 million USD) in 2018 to 814 000 OMR (2.1 million USD) one year later.

The investment income, which contributed significantly to Oman Re's profitability, posted a strong growth to 1.5 million OMR (3.9 million USD) against 1 million OMR (2.6 million USD) at the end of 2018, thus exceeding the targets set by the insurer for the year 2019.

Oman Re also managed to cope with the increasing claims and was able to absorb the losses related to Cyclone Hikka of September 2019. The company's combined ratio stood at 101.7% compared to 91.5% one year before

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