Oman to host insurance industry meet

Muscat: The Sultanate of Oman is all set to host a regional event on Arab and international insurance industry.

The event is titled “The 34th General Arab Insurance Federation Conference” organised by Oman Insurance Association and the Secretariat General of Arab Insurance Federation in cooperation with the Capital Market Authority (CMA) from 18 to 21 February .

Sayyid Nasser bin Salim Al Busaidi, Chairman of Oman Insurance Association stressed the significance of the conference expected to see the participation of over 2000 participants.

The conference would discuss the key issues and developments in the insurance industry and the international standards in the field among other issues, he said pointing to that the conference is an opportunity for exchange of experiences of the participating countries on the natural disasters insurance and digital insurance.

The insurance market of the Sultanate comprises 18 insurance companies including one concerned with reinsurance.

The size of the insurance market is almost OMR500 million and the insurance sector assets amount to OMR1.197 billion.