Penetration rate of 1.63% of the Omani insurance sector

The Omani insurance industry recorded a penetration rate of 1.63% for the year 2017. The total direct written premiums increased by 0.3%, reaching 451.57 million OMR (1.17 billion USD) in 2017 against 450.25 million OMR (1.167 billion USD) at the end of the 2016 financial year.

Takaful premiums witnessed a significant growth, representing 10% of the total direct insurance premiums.