MUSCAT: Total investments by insurance companies in Oman stood at approximately RO 673.1 million by the end of 2024, a decrease from RO 838.6 million recorded at the end of 2023, according to data from the Financial Services Authority (FSA).
National insurance companies accounted for RO 427.24 million of this figure, while foreign insurers invested RO 245.86 million. The majority of these investments were concentrated in bank deposits across general, life and savings insurance categories. In 2024, such deposits represented 51.4 per cent of national insurers’ investments, compared to 40.5 per cent the year before. Investments in all other categories combined stood at 48.6 per cent in 2024.
Foreign insurance firms similarly focused their portfolios on bank deposits, which made up 65 per cent of their investments in 2024, a slight decline from 65.2 per cent in 2023. Investments in government bonds rose to 26 per cent in 2024 from 24.8 per cent a year earlier, while their combined investment in other instruments did not exceed 9 per cent in 2024.
The FSA also reported a 30.1-per cent decline in total investment returns, which fell to RO 34 million in 2024. Of this, RO 21.975 million came from national companies and RO 12.071 million from foreign insurers. Returns from real estate investments rose by 35 per cent, while bank deposit returns from general and health insurance increased by 17.8 per cent. However, returns from life and savings deposits fell by 22.6 per cent, and returns on government bonds declined by 9.1 per cent. Investment returns from stocks listed on the Muscat Stock Exchange saw a sharp drop of 84.2 per cent. — ONA
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