Oman Re, the Sultanate of Oman’s sole reinsurer, has announced strong financial results for the nine months ended 30 September 2025, recording reinsurance revenue of OMR 40.2 million (USD 104.7 million), which is an 8% increase compared to OMR 37.4 million (USD 97.2 million) reported in the same period last year. Gross Written Premium (GWP) rose to OMR 49.5 million (USD 128.9 million) from OMR 47.8 million (USD 124.2 million) in the corresponding nine-month period of 2024. The company’s net profit after tax reached OMR 3.2 million (USD 8.4 million), reflecting a substantial 127% year-on-year increase from OMR 1.4 million (USD 3.7 million).

This strong bottom-line performance was driven by a 226% surge in net reinsurance results, which climbed to OMR 1.8 million (USD 4.7 million) versus OMR 549 thousand (USD 1.4 million) a year earlier, highlighting continued improvements in underwriting quality and portfolio management.

Oman Re’s combined ratio improved by four percentage points, standing at 94.2% compared to 98.2% in the prior-year period, reflecting sound underwriting. At the same time, net investment and other income rose by 23% to OMR 3.0 million (USD 7.7 million), supported by a diversified and measured investment strategy. As of 30 September 2025, the company’s net equity strengthened to OMR 40.9 million (USD 106.4 million) increasing by 16% since December 2024, thus underscoring Oman Re’s robust capital position and commitment to sustainable growth.

Romel Tabaja, CEO of Oman Re, commented: “Our performance over the nine-month period reflects the strength of our disciplined underwriting practices and robust risk management framework. We have maintained a balanced portfolio while adhering to clear underwriting principles that prioritize quality over volume and Oman Re continues to demonstrate resilience amidst evolving market dynamics. As we move into the final quarter, we remain confident of meeting our objectives and continuing to deliver value to our stakeholders.”

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