Fitch Affirms BB+ Rating for Oman Re, Revises Outlook to Positive

Oman Reinsurance Company (Oman Re), the Sultanate of Oman’s sole reinsurer, reported that Fitch Ratings has affirmed its Insurer Financial Strength (IFS) rating at ‘BB+’ and revised the outlook from Stable to Positive. This optimistic development reflects Oman Re’s strong financial performance, adequate capitalization, robust risk management practices, and its commitment to providing exceptional reinsurance services to its clients.
While Oman Re’s investments are mainly concentrated in Oman by virtue of regulatory mandates, the Company’s well-diversified operations, prudent underwriting practices, strong capitalization, cautious reserving, and disciplined approach to risk management has played a significant role in the recent rating review exercise.