08.04.2013 - Oman: Takaful to create competition in insurance market: Report
With continued growth forecast for Oman's insurance market, A M Best Co believes the new takaful licensing regulation will generate additional competition in an already crowded market. Over the long term, A M Best, a credit-rating organisation dedicated to the insurance industry, expects that underwriting profitability challenges in Oman could lead some insurers to exit the market, while larger insurers will maintain their leading positions. In a report entitled 'Oman's Market Offers Opportunities; Fierce Competition Remains,' A M Best says the pending introduction of takaful licensing regulation by the Capital Market Authority is likely to create further interest from new entrants...............................................Full Article: Source
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