Oman Re earnings rose in the first nine months of 2026, with net profit after tax increasing 58% to OMR 5.1 million ($13.2 million). Improved reinsurance profitability and higher investment income supported the result.

Key Takeaways

  • Reinsurance revenue increased to OMR 41.1 million from OMR 40.2 million a year earlier.
  • The net reinsurance result rose 134% to OMR 4.2 million.
  • The combined ratio improved to 87.4% from 98.2%.

Oman Re earnings benefit from stronger underwriting

Net profit after tax rose from OMR 3.2 million ($8.4 million) in the first nine months of 2025. Reinsurance revenue reached OMR 41.1 million ($107 million), compared with OMR 40.2 million ($104.7 million) a year earlier.

The net reinsurance result increased from OMR 1.8 million ($4.7 million) to OMR 4.2 million ($10.9 million). Gross written premium rose 16% to OMR 57.6 million ($150 million) from OMR 49.5 million ($128.9 million).

The combined ratio, a measure of claims and expenses relative to premiums, improved to 87.4% from 98.2%. Oman Re attributed the improvement to its emphasis on underwriting quality and careful portfolio management.

Investment income and equity increase

Net investment and other income rose 14% to OMR 3.4 million ($8.8 million). Net equity reached OMR 45.5 million ($118.3 million) at September 30, 2026, up 7% from December 2025.

Chief Executive Romel Tabaja said the performance came amid regional geopolitical uncertainty and a softening reinsurance market. He said the company remained focused on its objectives for the year and on safeguarding its financial strength.

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