Latest news with #LivaGroup
Zawya
5 days ago
- Business
- Zawya
Liva Group delivers strong H1 2025 performance with double digit revenue growth and strategic momentum
Insurance Service Result reached OMR 10.3 million Investment income of OMR 7.5 million, up 9% from H1 2024 Net Profit After Tax of OMR 8.8 million, continuing a pattern of topline growth and profitability Muscat, Oman: Liva Group, a leading multi-line insurance group operating across the GCC, today announced its consolidated financial results for the six-month period ended 30 June 2025, highlighting double-digit growth and continued momentum. The Group reported Insurance Revenue of OMR 194 million, a 24% year-on-year increase, driven by enhanced customer engagement, product innovation, and expanded distribution capabilities. All markets contributed to topline growth, led by a strong performance in the United Arab Emirate. The Group maintained its positive trajectory, gaining momentum in line with its growth strategy and supported by ongoing M&A activity. The Group's Insurance Service Result reached OMR 10.3 million, reflecting stronger underwriting discipline, enhanced claims governance, and improved pricing adequacy – a result of the Group's ongoing efforts to enhance risk selection and operational efficiency. Liva recorded Investment Income of OMR 7.5 million, up 9% from H1 2024. The growth was driven by investment portfolio optimisation and an expanded investment base, contributing to stronger yields and positive market-to-market movements in line with favourable market dynamics. Overall, the Group achieved a Net Profit After Tax of OMR 8.8 million. The strong result reflects solid execution across all areas of the business - from revenue growth and stronger underwriting performance to tighter cost control. Profitability was supported by better management of claims and underwriting, as well as improved efficiency through active cost and reserve management. Martin Rueegg, CEO of Liva Group, said: "Liva Group entered 2025 with clear strategic momentum, achieving robust topline growth and consistent profitability in H2 2024. The strong and disciplined performance in the first half of 2025 reflects the progress we continue to make in strengthening our technical foundations, enhancing efficiency, and driving growth across our core markets. With double-digit revenue growth, improved underwriting results, and continued investment in technology, talent, and operational excellence, we are well-positioned to navigate the evolving landscape and continue delivering value across the region.' Looking ahead, the Group remains focused on delivering greater value to customers through continued digital innovation, service excellence, and operating with greater agility to meet evolving market the same time, Liva remains committed to developing strategic partnerships, including the proposed merger of Liva KSA with Malath Cooperative Insurance in Saudi Arabia, as, backed by a strong capital base, Liva actively invests in sustainable, value-driven expansion across attractive geographies and product lines to reinforce relevance and deliver long-term shareholder value. About Liva Group Liva is an insurance group operating across the GCC, founded on the belief that insurance is a pillar that supports both personal and professional lives. As one of the pioneering insurance players in the region, Liva's team of 1,200 employees is dedicated to offering products and services centred on customer needs, empowering individuals, businesses, and communities to thrive. Serving more than 1.5 million customers, Liva has a strong and growing presence in Oman, the United Arab Emirates, Saudi Arabia, Kuwait, and Bahrain across motor, health, life, home, travel, and commercial insurance, as well owning subsidiaries such as NSSPL (India) and Inayah TPA (UAE), supporting its long-term strategy to scale and diversify the business. The word "Liva" signifies "protection" or "life', reflecting the Group's commitment to protecting what matters most to its people, its partners, and, most of all, its customers. Contact Details Brunswick Group Sarah Abdelbary liva@
Zawya
16-07-2025
- Business
- Zawya
Oman: Sohar International, Liva sign $163mln loan deal
Muscat – In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi-line insurance provider operating across the GCC. The RO63mn facility reflects Sohar International's growing role as a trusted financial partner for regional corporates seeking to optimise capital structures and scale with resilience. The signing ceremony took place at Sohar International's Waterfront Office and was attended by Abdulwahid Mohamed al Murshidi, Chief Executive Officer of Sohar International, and Martin Rueegg, Chief Executive Officer of Liva Group. Commenting on the strategic partnership, Abdulwahid Mohamed al Murshidi, Chief Executive Officer of Sohar International, stated: 'At Sohar International, we are focused on fostering strategic partnerships that create long-term value. Our agreement with Liva Group is a testament to our commitment to supporting ambitious, high-performing organizations with customised financial solutions that drive sustainable growth. 'This facility not only enhances Liva's financial flexibility but also reflects our shared commitment for regional progress, innovation, and long-term value creation. We are proud to partner with Liva on its journey to scale, diversify, and lead with purpose.' The facility consolidates Liva's existing borrowings into a single, streamlined structure – reducing financing costs, enhancing cash flow management, and increasing agility in capital deployment across the Group's operations. The agreement also provides a robust financial framework aligned with Liva's long-term growth strategy, particularly as it expands its presence across key regional markets. Martin Rueegg, Chief Executive Officer of Liva Group, added that this agreement is about more than refinancing; it represents a proactive step in strengthening our capital efficiency and readiness for the future. 'Sohar International stood out as a strategic partner that understands our operational landscape and shares our ambitions around regional integration, digital innovation, and customer-centric growth.' This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as Saudi Arabia – where both institutions share ambitious strategic goals. This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as Saudi Arabia. This collaboration sets the stage for broader financial engagement, including the delivery of advanced, tailored banking solutions that support Liva Group's evolving priorities across its core markets. By forging such strategic alliances, Sohar International reaffirms its position as a trusted partner of choice – empowering clients to unlock growth opportunities, accelerate regional expansion, and contribute meaningfully to the economic transformation of the wider region. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
15-07-2025
- Business
- Zawya
Sohar International extends OMR63mln consolidated loan facility to Liva Group
Muscat: In line with its commitment to enabling strategic partnerships that support sustainable business growth, Sohar International has signed a consolidated loan agreement with Liva Group, a leading multi-line insurance provider operating across the GCC. The OMR 63 million facility reflects Sohar International's growing role as a trusted financial partner for regional corporates seeking to optimize capital structures and scale with resilience. The signing ceremony took place at Sohar International's Waterfront Office and was attended by Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, and Mr. Martin Rueegg, Chief Executive Officer of Liva Group. Commenting on the strategic partnership, Mr. Abdulwahid Mohamed Al Murshidi, Chief Executive Officer of Sohar International, stated: 'At Sohar International, we are focused on fostering strategic partnerships that create long-term value. Our agreement with Liva Group is a testament to our commitment to supporting ambitious, high-performing organizations with customized financial solutions that drive sustainable growth. This facility not only enhances Liva's financial flexibility but also reflects our shared commitment for regional progress, innovation, and long-term value creation. We are proud to partner with Liva on its journey to scale, diversify, and lead with purpose.' The facility consolidates Liva's existing borrowings into a single, streamlined structure—reducing financing costs, enhancing cash flow management, and increasing agility in capital deployment across the Group's operations. The agreement also provides a robust financial framework aligned with Liva's long-term growth strategy, particularly as it expands its presence across key regional markets. Mr. Martin Rueegg, Chief Executive Officer of Liva Group, added: 'This agreement is about more than refinancing; it represents a proactive step in strengthening our capital efficiency and readiness for the future. Sohar International stood out as a strategic partner that understands our operational landscape and shares our ambitions around regional integration, digital innovation, and customer-centric growth.' This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as the Kingdom of Saudi Arabia—where both institutions share ambitious strategic goals. This partnership further strengthens Sohar International's growing regional presence and aligns with its aspirations to support clients expanding into high-growth markets such as the Kingdom of Saudi Arabia. This collaboration sets the stage for broader financial engagement, including the delivery of advanced, tailored banking solutions that support Liva Group's evolving priorities across its core markets. By forging such strategic alliances, Sohar International reaffirms its position as a trusted partner of choice—empowering clients to unlock growth opportunities, accelerate regional expansion, and contribute meaningfully to the economic transformation of the wider region. About Sohar International Sohar International is Oman's fastest-growing bank, guided by a clear vision to become a world-leading Omani service company that helps customers, communities, and people prosper and grow. With a purpose to help people 'win' by delivering responsive banking for their ever-changing world, the bank offers innovative solutions across Commercial and Investment Banking, Wealth Management, Islamic Banking, and more. Operating with a strong digital-first approach and an expanding regional footprint—including presence in the Kingdom of Saudi Arabia—Sohar International is committed to driving value through strategic partnerships and a dynamic customer experience.
Hi Dubai
13-05-2025
- Business
- Hi Dubai
Salik posts 33.7% revenue growth in Q1 2025 as new toll gates and pricing model boost performance
Salik, Dubai's exclusive toll gate operator, reported a robust 33.7% year-on-year increase in revenue for the first quarter of 2025, reaching AED 751.6 million. The surge was driven by the introduction of two new toll gates and the rollout of a variable pricing model, reinforcing Salik's position as a key player in Dubai's smart mobility ecosystem. Total chargeable trips hit 158 million in Q1, supported by the Business Bay and Al Safa South toll gates launched in November 2024. Peak period toll usage contributed 39.3 million trips, while off-peak trips accounted for 107.5 million. The company's core tolling revenue grew 35.5% to AED 665.6 million, while fines generated AED 68.4 million, up 16.2% year-on-year. Salik's profitability remained strong, with EBITDA rising 37.9% to AED 519.6 million and EBITDA margin expanding to 69.1%. Net profit after tax stood at AED 370.6 million, up 33.7% compared to Q1 2024. Beyond tolls, Salik's ancillary revenue streams gained traction. Its barrier-free parking solution at Dubai Mall and its partnership with Parkonic generated AED 2.8 million, while a vehicle insurance partnership with Liva Group contributed AED 0.5 million. Tag activation fees also rose 17.4% to AED 11.5 million. Free cash flow increased 77.8% year-on-year to AED 626.7 million, supported by operational efficiency and strong revenue growth. Salik reduced its net debt to AED 4.65 billion, maintaining a healthy leverage ratio of 2.7x. Looking ahead, Salik reaffirmed its full-year guidance, expecting total revenue growth of 28–29% in 2025, driven by continued expansion in tolling and ancillary services. The company continues to explore regional opportunities and partnerships to diversify its offerings and support sustainable long-term growth. News Source: Dubai Media Office
Khaleej Times
25-02-2025
- Business
- Khaleej Times
UAE companies launch insurance for crypto firms; say they are 'learning' from Bybit's $1.5-billion hack
Two insurance companies in the UAE have partnered to launch a range of insurance products for companies operating in new markets like digital assets, blockchain, AI, biotech, and the space economy. Liva Group and Relm Insurance MENA will offer several specialised products to startups as well as established players, protecting them against risks. 'We are focusing on providing access to insurance products that these companies need, to grow their business and to stay protected,' said Joseph Ziolkowski, CEO and Founder of Relm Insurance, speaking at a media roundtable. 'Products like directors' and officers' liability insurance, professional liability insurance and cybercrime insurance are some of foundational insurance coverages that any company is going to need.' Bybit: A learning experience He also added that the sophisticated attack on Dubai-based cryptocurrency exchange Bybit, which caused the company to lose approximately Dh5.51 billion has been a 'learning experience' for the entire insurance industry. 'There's going to be a lot of discussion about the cause of the loss, whether insurance is in place, whether insurance will respond to that loss,' he said. 'But these are really important events. It brings additional clarity to the different sources of vulnerability that exist in this economy; awareness related to the effectiveness of coverage that's available in the marketplace; and it comes back to risk management. I think we'll be pulling a lot of thought bubbles and points of insight away from it for weeks to come.' According to Joseph, the most popular product of the company has been the directors/officer's liability insurance. 'This is a coverage that enables the executives of a company and the board members to protect themselves from personal liability, in their capacity as director or officer of these new and emerging companies,' he said. Responding to change According to Martin Ruegg, Group CEO at Liva Group, it is hard for insurance companies to pivot quickly. 'The insurance industry needs hundreds of years of data sets to figure out pricing,' he said. 'This is something we don't have in the case of digital assets.' He added that many companies in the newer sectors find it difficult to get a good insurance policy. 'I think today if you go to any insurance company, 80 per cent would not issue a policy for certain sectors,' he said. 'They cannot run their business then because they need it from a regulatory perspective.' Joseph added that he found a huge gap in the market in the UAE when he first started the company here. 'There is a lot of insurance and re-insurance capacity in the UAE but those are geared toward companies doing traditional things,' he said. 'And when you look at the pipeline of companies that are looking to obtain licensure through VARA, they're doing very innovative things like exchanges, payment and remittance platforms, custodians, software developers and hedge funds. So a major gap exists in the local market when it comes to companies operating in the digital asset and Web3 space. And that's exactly the gap we're looking to fill.'
