GIG Gulf gains Cat A health insurance licence from FSA in Oman
Insurance company GIG Gulf has secured a Category "A" licence from the Financial Services Authority (FSA) in Oman.
This move allows the company to offer and manage health insurance products under the Sultanate's 'Health Insurance Participation' framework.
The FSA's new licencing framework is designed to enhance regulatory oversight and increase premium retention within Oman.
It introduces a co-insurance model, which permits licenced B insurers to share in the health insurance business with licenced A insurers.
GIG Gulf Oman general manager Mehdi Al Harthy said: 'We are committed to leveraging our expertise and technology to deliver tailored insurance solutions that meet the unique needs of individuals and businesses across Oman.
'Our focus is on building long-term partnerships and enhancing customer experience through transparency, accessibility, and trust.
'We are investing in infrastructure, IT systems, and talent to expand our client base and product offerings, ensuring that we meet evolving market demands and consistently deliver the highest quality service. We also thank the FSA for their leadership in fostering a resilient and inclusive health insurance ecosystem in Oman."
Having operated in the GCC region for over 70 years, GIG Gulf, a subsidiary of Fairfax Financial Holdings, has a focus on growth and investments.
The company provides insurance products and services to SMEs, corporates and individual customers in the UAE, Oman, Bahrain and Qatar.
With a workforce exceeding 800 employees across 12 branches and retail shops across the region, and serving over one million customers, GIG Gulf aims to become the region's digital insurer.
"GIG Gulf gains Cat A health insurance licence from FSA in Oman " was originally created and published by Life Insurance International, a GlobalData owned brand.
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