Oman Re, the Sultanate of Oman’s sole reinsurer, has announced its financial results for the six months ended 30 June 2026, reflecting improved technical performance, disciplined underwriting and continued progress in executing its strategic priorities. Reinsurance revenue increased to OMR 27.5 million (USD 71.4 million), compared with OMR 26.4 million (USD 68.8 million) in the corresponding period of 2025. Gross Written Premium (GWP) reached OMR 46.9 million (USD 122.1 million), up from OMR 36.7 million (USD 95.5 million) in H1 2025.

Net profit after tax grew by 49% to OMR 3.3 million (USD 8.6 million), against OMR 2.2 million (USD 5.8 million) a year earlier. The improvement was supported by a 143% rise in the net reinsurance result, which stood at OMR 2.3 million (USD 6.1 million), compared with OMR 962 thousand (USD 2.5 million) during the same period in 2025.

The combined ratio improved to 89.2%, from 95.4% in H1 2025, demonstrating the benefits of disciplined underwriting and risk selection. Net investment and other income also increased by 16% to OMR 2.3 million (USD 6.1 million), supported by the company’s prudent and diversified investment strategy. As of 30 June 2026, net equity stood at OMR 45.9 million (USD 119.3 million), representing an 8% increase from December 2025 and further strengthening Oman Re’s capital position.

Romel Tabaja, CEO of Oman Re, stated: “Oman Re delivered a strong performance during the first half of 2026 despite increasingly competitive and challenging market conditions. Disciplined underwriting, prudent risk selection, and solid investment returns contributed to the significant improvement in profitability. As we progress through the year, we remain focused on maintaining financial strength, delivering our strategic priorities and creating sustainable long-term value. I sincerely thank our employees, clients, brokers, partners and shareholders for their continued dedication, support and confidence.”

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