Omani insurers' dependence on reinsurance to decrease: Moody's

Moody's Investors Service Inc. has said that insurers in Oman are likely to reduce their dependence on reinsurers and as a result of increased capital requirements would take on more underwriting risk with higher retention, reports Gulfnews.com.

Moody's said the risk retention in the Omani market was 54% in 2013. Currently, Omani insurers rely on reinsurers for technical assistance and have low risk-bearing capacity for some businesses, reports Gulfnews.com.

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