Oman Re, the Sultanate of Oman’s sole reinsurer, reported stronger earnings for the nine months ended 30 September 2026, supported by improved reinsurance profitability and growing investment income. Reinsurance revenue reached OMR 41.1 million (USD 107.0 million), up from OMR 40.2 million (USD 104.7 million) in the corresponding period of 2025. Gross Written Premium (GWP) rose by 16% to OMR 57.6 million (USD 150.0 million), compared with OMR 49.5 million (USD 128.9 million) during 9M 2025.

Net profit after tax increased by 58% to OMR 5.1 million (USD 13.2 million), against OMR 3.2 million (USD 8.4 million) a year earlier. Stronger technical earnings were a key contributor, with the net reinsurance result advancing by 134% to OMR 4.2 million (USD 10.9 million), compared with OMR 1.8 million (USD 4.7 million) in the same period last year.

The combined ratio improved to 87.4%, from 98.2% during 9M 2025, reflecting the company’s sustained emphasis on underwriting quality and careful portfolio management. Net investment and other income increased by 14% to OMR 3.4 million (USD 8.8 million), providing further support to overall profitability through a prudent and diversified investment approach. Net equity reached OMR 45.5 million (USD 118.3 million) as of 30 September 2026, an increase of 7% from December 2025, reinforcing the company’s capital strength.

Romel Tabaja, CEO of Oman Re, stated: “Oman Re delivered a strong nine-month performance despite regional geopolitical uncertainty and a softening reinsurance market. Disciplined underwriting and prudent investment management drove growth in both reinsurance earnings and investment income, strengthening our overall profitability. As we enter the final quarter, we remain focused on achieving our objectives for the year while safeguarding our financial strength and delivering sustainable value. This progress reflects the collective efforts of our people and the strength of the relationships that continue to drive Oman Re forward.”

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