Oman Re, the first and only reinsurer in the Sultanate, reported full-year reinsurance revenue of 54.3 million Omani riyals ($141.2 million) in 2025, up 9% from 49.9 million Omani riyals ($129.8 million) in 2024, and net profit after tax increased 54% to 4.6 million Omani riyals ($12.1 million).
Notably, Oman Re’s net reinsurance performance increased by 37% in 2025 from the previous year to Omani Rial 2.8 million ($7.3 million).
The company’s combined ratio also improved by 1.1 percentage points to 93.4%, compared with 94.5% in 2024. This reportedly reflects “consistent underwriting discipline” and effective cost management.
Meanwhile, Oman Re explained that it continued its prudent investment strategy last year, with net investment and other income increasing by 18% to 4.1 million Omani riyals ($10.6 million).
The company said it remains committed to strengthening its market position, enhancing stakeholder value and supporting the long-term development of the regional reinsurance industry through sound governance, innovation and responsible risk management.
Romel Tabaja, CEO of Oman Re, said: “Our 2025 results reflect the progress we have made in delivering on our strategic plans in a challenging and changing environment.
“Through targeted innovation and continued focus on customer needs, we have achieved sustainable growth and solid financial performance.
“I would like to express my sincere gratitude to our Board for their guidance, the Financial Services Authority regulator for their continued support, and our valued customers and partners for their continued trust.
“Most importantly, I commend our dedicated employees whose professionalism and teamwork were instrumental in achieving these results.”
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