Muscat: The Financial Services Authority reported that national insurance companies invested approximately RO 427.24 million in 2024, while foreign insurers contributed around RO 245.86 million. A significant portion of these funds remained concentrated in bank deposit instruments—covering general, life, and savings insurance.
In 2024, national insurers allocated 51.4% of their investments to bank deposits, up from 40.5% in 2023. Foreign insurers followed a similar trend, with 65% of their investments placed in bank deposits, almost unchanged from 65.2% the previous year. Government bonds were the second-largest investment for foreign insurers, accounting for 26% in 2024—up slightly from 24.8% in 2023. Investments in all other asset classes remained below 10%.
Despite cautious strategies, overall investment returns dropped to just over RO 34 million in 2024, marking a 30.1% year-on-year decline. National companies yielded RO 21.975 million, while foreign insurers earned RO 12.071 million in returns.
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Category-wise, real estate delivered the strongest performance, with a 35% rise in returns. Bank deposits for general and health insurance saw gains of 17.8%. However, life and savings insurance returns from deposits fell 22.6%, and returns from government bonds declined by 9.1%. Notably, investment returns from stocks listed on the Muscat Stock Exchange saw a dramatic plunge of 84.2%.
