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Oman: Sixteen insurers fail to meet new capital requirement

August 28, 2014 - 6:00am


Sixteen of Oman's 22 insurers do not meet the new minimum capital requirement of 10 million Omani rials ($26 million) and will need to do so in the coming three years, Asia Insurance Review reported citing the Times of Oman.

The new capital requirement is the result of recent revisions to the country's insurance law. Eight insurers, including a reinsurer, will offer shares to the public within the next three years to comply with the new requirements.

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