Oman Re, the Sultanate’s first and only reinsurer, has reported reinsurance revenue of OMR 54.3 million ($141.2 million) for the full year 2025, marking a 9% increase from OMR 49.9 million ($129.8 million) in 2024, while net profit after tax climbed 54% to reach OMR 4.6 million ($12.1 million).
Notably, in 2025, Oman Re recorded a 37% improvement in net reinsurance results compared with the previous year, rising to OMR 2.8 million (USD 7.3 million).
The firm’s combined ratio also improved by 1.1 percentage points to 93.4%, compared to 94.5% in 2024. This reportedly reflected “consistent underwriting discipline” and effective cost management.
Meanwhile, Oman Re explained that its prudent investment strategy continued last year, resulting in an 18% increase in net investment and other income, which reached OMR 4.1 million ($10.6 million).
The firm observed that it remains focused on strengthening its market position, enhancing value for stakeholders and supporting the long-term development of the regional reinsurance sector through sound governance, innovation and responsible risk management.
Romel Tabaja, Chief Executive Officer of Oman Re, said, “Our 2025 performance reflects the progress we made in delivering our strategic plan in a challenging and changing environment.
“Through targeted innovation and a continued focus on customer needs, we delivered sustainable growth and solid financial results.
“I would like to express my sincere appreciation to our Board of Directors for their guidance, to our regulators at the Financial Services Authority for their continued support, and to our valued clients and partners for their continued confidence.
“Above all, I commend our dedicated employees, whose professionalism and teamwork have been instrumental in achieving these results.”
