Despite the challenges of recent statutory reforms which have doubled insurers’ minimum capital requirement to OMR10 million and mandated listing on the Muscat Securities Market as well as competition from the emerging takaful segment combined with the economic downturn, Oman’s insurance industry has grown steadily, outperforming other GCC countries in terms of return on equity. The trajectory is forecast to rise steeply once imminent regulations mandating health insurance for private sector employees come into force.

AMJ has a long tradition of advising Oman’s leading insurers and reinsurers, and,  more recently, the country’s first takaful operators, on transactions, financing, corporate, commercial and regulatory matters. Our team supports clients across the full range of their legal needs including establishing new operations, corporate restructuring, capital-raising, public listing, M&A, financial services regulation and compliance, development of insurance products including Shariah-compliant products, commercial contracts and insurance/reinsurance disputes.

We regularly advise on insurance considerations in other practice areas, such as banking and finance, construction, projects particularly in the maritime, transport and aviation sectors, but also in projects and engineering, and real estate.