Oman Re is the first reinsurance company to be established in the Sultanate of Oman with the purpose of writing Facultative and Treaty business from local and international markets. Oman Re’s current territorial scope includes all Afro-Asian countries, CEE and CIS markets and it writes marine and non-marine lines of business.
Oman Re commenced operations in July 2009 with a paid-up capital of OMR 5,000,000 (Omani Rials five million). Capital was gradually increased to OMR 30,000,000 (Omani Rials thirty million), equivalent to circa USD 78,000,000 (US Dollars seventy-eight million).
In November 2020, Oman Re launched its branch at the Qatar Financial Centre (QFC) after obtaining necessary regulatory approvals. The Company’s values of Dynamic Culture and Transparency ensure that all its operations are carried out with maximum integrity and to the highest standards.
Fitch Ratings has assigned an Insurer Financial Strength (IFS) rating of ‘BB+’ to Oman Re. For further details related to rating, please refer to: Oman Re Rating Information