Times of Oman
TOO in 5 mins
05 : 30 AM
06 : 30 PM
50 to 80 per cent
Price in RO
24ct / gm
22ct / gm
Forex Rates vs R01
Back to Homepage
Infrastructure boom aids insurance sector
February 09, 2013 , 12 : 53 pm
SAVE THIS ARTICLE
Oman Insurance Company (OIC) AChas 15 branches and a strong presence in every emirate in the UAE, the Sultanate of Oman and QAatar. Photo — Jun Estrada/Times of Oman
Boom in infrastructure development in the Sultanate is supporting the growth of insurance companies, top official of Oman Insurance Company (OIC) said yesterday. "The Sultanate is witnessing a rapid growth in infrastructure development. Several ongoing constructions and announcement of new projects is bringing us more work and good business.
As we are one of the leading insurance solutions providers in the Middle East, headquartered in Dubai, we are able to provide a better service to our clients based outside Sultanate and having business here," Patrick Choffel, chief executive officer of OIC, told Times of Oman on the sidelines of the opening of their new office in Ruwi.
"Recently, we opened an office as part of our expansion in Turkey. There are a few Turkey-based companies doing business in Oman. So, it is quite convenient for them when we are available for them in Turkey and in Oman," the CEO added.
OIC has 15 branches and a strong presence in every emirate in the UAE, the Sultanate of Oman and Qatar.
"Established in 1975, OIC today is a financially sound and professionally managed organisation. Our business volume has gone up 10 per cent in the region and in the Sultanate it is more or less same. We were rated 'A Excellent' by AM Best and 'A- Stable' by Standard & Poor's, supported by leading reinsurers like Swiss Re, Munich Re, Allianz and Arig," he added.
OIC provides a complete range of insurance solutions from life, health, motor and personal lines to covers for medium to large industrial and commercial enterprises; and energy, marine and construction sectors.
Responding to a question on Takaful (Islamic Insurance), the CEO said: "We are keen on providing Islamic Insurance solutions. We are working on it."
Sheikh Yahya bin Nasser bin Mohammad al Harrasi, the wali of Muttrah, opened the new office and wished OIC a better future.
Rate this Article
Rates : 0, Average : 0
Latest in this section
Bill Gates becomes world’s richest man once again
Apple seen losing its ‘innovation magic’
Dell profit dives as PC sales sag
Maersk sales fall in first quarter
Pandit takes stake in India’s JM Financial
Post a Comment
Did you like this section? Leave a comment!
Your Name :
Your Email Address :
Your Comment :
Enter ImageText here:
No Comments Posted
TOP RATED ARTICLES
Strong 6.1 earthquake strikes off Japan coast
Mahran Shaukat Ali
Four automobile smugglers held for dealing in smuggled cars
Times News Service
CBSE-I teachers mull over new tech-based education inputs
Times News Service
Oman oil exports rise 14.8 % in first three months of 2013
More in News
Hybrid power plants: Renewable energy’s newest trend
John Brian Shannon - Special to Times of Oman
Matt Damon is in a battle with one of America’s most powerful industries
Pakistan feudal dynasty receiving tough challenge from 'Robin Hood'
By Mehreen Zahra-Malik / Reuters
Tea, still Britain's queen of drinks
Cricketers salute master blaster
More in Features
Yemen’s unique way forward
Thomas L. Friedman
Postcard from Yemen
Thomas L. Friedman
Behold the American felony in Middle East
Garment workers matter more than burgers
Has the rudderless PPP resigned to opposition’s role?
More in Columns
Get Top news by E-mail.
Copyright © 2012 Muscat Press & Publishing House SAOC. All rights reserved. Times of Oman is not responsible for the content of external internet sites.
For reprint rights contact:
TOO Online Editorial