Oman: Oman Re delivers strong 1Q2026 results with 59% increase in net profits

Source: Middle East Insurance Review | Jun 2026

Oman Re, the Sultanate’s sole reinsurer, has reported a strong financial performance for the first quarter ended 31 March 2026, underpinned by disciplined underwriting, sustained premium growth and prudent investment strategies.

Net profit after tax recorded a notable 59% increase, reaching OMR1.8m ($4.6m) in 1Q2026, compared to OMR1.1m in the corresponding quarter last year, reflecting strong underwriting results.

Reinsurance revenue increased to OMR13.7m, reflecting a 4% growth compared to OMR13.2m recorded during the corresponding quarter in 2025. Gross written premium (GWP) rose significantly to OMR36.0m, up from OMR26.1m in 1Q2025, demonstrating continued momentum in business generation across key markets.

Net reinsurance results showed strong growth of 79%, rising to OMR1.5m in 1Q2026, compared to OMR828,000 in 1Q2025. The combined ratio improved by 5.9 percentage points to 86.6%, highlighting enhanced portfolio quality and effective risk selection. M

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