Muscat: The total authorised capital of Oman Qatar Insurance Company (OQIC) will increase to OMR 30 million from the current OMR 20 million, and the issued capital will rise to OMR 22 million, following the merger with Vision Insurance Services.
Last week, the Capital Market Authority (CMA) approved the resolution of the extraordinary general meeting of Vision Insurance to dissolve the company and merge with OQIC. The insurance regulator also cancelled the license of Vision Insurance for carrying out general and life insurance and savings in Oman.
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