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Oman Insurance Report Q3 2009Published by: Business Monitor International Published: Jul. 3, 2009 - 96 Pages Table of Contents
AbstractThis report was written in late May. Relative to the Q209 report, the main changes pertain to the profilesof companies, both regional and predominantly local, which have been updated considerably. We havealso included a brief overview of conditions and development of premium income through Q109. This isbased on comments made by major, mainly listed, companies which became available for the most partfrom mid-May. We hope to build on this section in terms of detail.Q109 was a challenging but far from disastrous quarter for the major protagonists in most markets.Notwithstanding the fact that particular non-life markets suffered as a result of a slump in the number ofcars registered, and correspondingly lower demand for compulsory third party motor (CTPM) insuranceand voluntary motor insurance, global non-life premiums generally held up well in spite of the globaleconomic downturn. In contrast, life premiums were, in most markets, lower in Q1 than they had been inQ108. This was largely the result of the past volatility in global equity markets, although there were alsoother problems. Conditions remain fair in the global reinsurance market. In terms of the major regions whose insurance markets are covered by BMI’s reports, Latin America andthe Middle East and North Africa (MENA) stood out in terms of growth in premiums (in non-lifeinsurance in particular, but also in life insurance). Conditions were far more mixed in Central & EasternEurope (CEE), particularly in non-life insurance, where the downturn in car registrations hit hard, andAsia Pacific, where various factors caused slippage in life premiums in many markets. Revision Of Data And Forecasts We have updated the insurance data for 2008 and our forecasts for the next five years. In many cases,preliminary or final figures for last year have been published by the regulator or the trade association. Insome cases, we have estimated figures for 2008, but on the basis of information that has been published inrelation to a significant portion of the year. In some cases though, we have based our 2008 estimate onresults disclosed by individual companies operating in the market in question. Get Full Details About This Report >> |
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