Latest news with #Sultanate
Times of Oman
2 hours ago
- Business
- Times of Oman
Eleventh Five-Year Plan's Supervisory Committee holds third meeting
Muscat: The Supervisory Committee tasked with drafting the 11th Five-Year Development Plan on Sunday held its third meeting at the Ministry of Economy. The meeting was chaired by Dr. Said bin Mohammed Al Saqri, Minister of Economy and Chairman of the Committee The meeting was aimed to ensure that the 5-year plan's preparation is proceeding in accordance with the approved timeframes and technical specifications. This meeting was in pursuance of efforts to formulate a comprehensive development plan that keeps pace with the approaches of Oman Vision 2040 and contributes to sustainable economic and social development in the Sultanate of Oman. The meeting focused on developing a clear-cut, comprehensive five-year plan that aligns with national priorities and responds to the citizens' aspirations for the forthcoming stage. The meeting also laid emphasis on the integration of roles of different government departments, sector establishments and civil society institutions—to ensure that the 5-year plan would be effective in meeting the objectives of Oman Vision 2040.
Zawya
2 hours ago
- Business
- Zawya
Cigna Healthcare Middle East secures Category "A" health insurance license in Oman
Oman – Cigna Healthcare Middle East, a global health service company, has achieved a significant regulatory milestone in Oman, securing a Category 'A' health insurance license from the Financial Services Authority (FSA). The license authorizes Cigna Healthcare to underwrite, manage and issue health insurance under the Sultanate's newly established 'Health Insurance ' framework. As the first international health insurer, and one of only a select few providers in the market, to be granted the coveted Category "A" health insurance license, the distinction places the business among the market's most trusted insurers, recognized by the FSA for meeting stringent regulatory, operational and service excellence standards. It also affirms Cigna Healthcare's strategic role in helping shape a more inclusive, high quality and trusted health insurance landscape in Oman. 'Being granted the Category 'A' license is more than a regulatory milestone – it's a powerful endorsement of our commitment to Oman, and our ability to deliver lasting value in Oman's transforming healthcare landscape,' said Raed Labaki, General Manager of Cigna Healthcare, Middle East (excluding UAE and KSA). ' As Oman accelerated healthcare reform to improve market stability and access to quality care, Cigna is proud to be part of this progress. Backed by global experience and deep local insights, we're ready to support the Sultanate's vision for a more sustainable, trusted and accessible healthcare system that meets the needs of individuals, businesses and the broader economy.' This milestone builds on Cigna Healthcare's deep-rooted presence in Oman, which began in 2017 with the acquisition of Zurich's regional health insurance portfolio. Since then, Cigna Healthcare has established a fully licensed branch in Muscat, built a strong local team, and introduced tailored health plans such as Cigna Choice to meet the specific needs of the Omani market. Through partnerships with trusted local players like MedNet and the rollout of digital tools, Cigna delivers fully compliant, end-to-end health and well-being solutions for multinational, regional, and local employers. Abdullah Amir Al Hatmi, Country Manager of Cigna Healthcare Middle East (Oman Branch) commented: 'We thank the Financial Services Authority for granting us this license. This achievement reinforces our commitment to contribute to a sustainable, trusted, and inclusive health system that meets the evolving needs of individuals, businesses, and the broader economy. We are ready to deliver Cigna's leading health insurance solutions and support national platforms like eDhamani to foster greater integration, transparency, and faster service delivery across insurers, providers and TPAs in the healthcare ecosystem.' As Oman's healthcare landscape evolves – with initiatives like the eDhamani digital health platform and the anticipated implementation of mandatory health coverage – Cigna remains committed to investing in Oman's healthcare future, and contributing to Oman's economic goals. About Cigna Healthcare Cigna Healthcare is a global health service company dedicated to helping people improve their health and vitality. With a heritage of over 250 years, Cigna Healthcare is committed to its promise of being together all the way in providing health care, clinical management, and wellness programs to employers, individuals, and governments around the world. Operating for more than 19 years in the Middle East region, Cigna Healthcare serves the GCC markets and Lebanon through its locally regulated entities. The company delivers both health and wellness services to individuals, employers, and government entities in the region. With a deep-rooted understanding of the African market, a regional presence in Kenya and a dedicated claims team servicing over 250,000 members, Cigna Healthcare provides extensive coverage across the continent, ensuring access to health care solutions for local companies and multi-national corporations alike. [The coverage spans several countries, including but not limited to Morocco, Kenya, Uganda, Mauritius, Tanzania, Nigeria, Ghana, Mozambique, Democratic Republic of the Congo (DRC) and Zambia] Cigna Healthcare maintains a global sales capability in 30 countries and jurisdictions, employing over 72,000 people who service more than 164 million customer relationships. To learn more about Cigna Healthcare, visit
Zawya
3 hours ago
- Business
- Zawya
Liva Insurance sets new benchmark with ‘Innovative Insurer of the Year' Award at the New Age Banking Summit 2025
Muscat – Recognized for reshaping the future of insurance in the Sultanate of Oman through bold innovation and digital excellence, Liva Insurance was crowned 'Innovative Insurer of the Year' at the New Age Banking Summit 2025 – affirming the brand's leadership in transforming Oman's insurance sector for the modern era. Celebrating its milestone 10th edition, the New Age Banking Summit has solidified its position as Oman's premier platform for banking, insurance and financial innovation. Held under the esteemed patronage of His Excellency Ahmed Al Musalmi, Governor of the Central Bank of Oman, this year's summit brought together an influential cross-section of industry leaders, regulators, fintech pioneers, and technology experts. The event was anchored around two key themes – 'Navigating the New Era of Banking, Payments, and Customer-Centricity' and 'Innovating Financial Horizons: AI, Digital Transformation, and Beyond'. The summit served as a dynamic forum for strategic dialogue, where panel discussions and thought-leadership sessions explored how financial institutions are adapting to a rapidly shifting landscape. Topics such as artificial intelligence (AI) and machine learning, digital transformation, cybersecurity, ESG integration, InsurTech, and changing consumer behavior took CenterStage – all of which are areas that closely align with Liva Insurance's strategic goals and vision for the future. These focal points also resonate deeply with the brand's commitment to innovation and modernization – and several of these initiatives are already well underway. For instance, Liva Insurance was the first insurer to successfully integrate with Dhamani through the FSA's regulatory sandbox in December 2023. Since then, the company has processed more than 1.2 million electronic transactions, responded to over 765,000 eligibility requests, delivered upwards of 333,000 approval responses, and received more than 150,000 electronic claims, including a peak of over 21,000 transactions in a single day. These achievements reflect a tangible transformation in healthcare delivery, creating a smarter, faster, and more transparent experience for citizens and residents across Oman. Liva Insurance's Transformation Director – Khalid Al Zadjali said: 'Receiving the 'Innovative Insurer of the Year' award is a proud milestone for our team and a reflection of our unwavering commitment to innovation and customer-centricity. Our digital transformation journey is closely aligned with the broader goals of Oman Vision 2040, as we strive to support the nation's economic diversification and technological advancement. 'We are dedicated to delivering smarter, seamless insurance experiences that are future-ready to enhance the financial ecosystem in Oman. This recognition inspires us to continue leading with vision, agility, and a strong sense of responsibility to our community and country.' The honours came as part of the Oman Banking & Finance Awards at the flagship event, which formed a key highlight of the summit. Spanning banks, insurance providers, investment firms, and fintech providers, the awards recognised 27 high-performing institutions that have demonstrated innovation, resilience, and strategic excellence over a four-year review period from 2021 to 2024. About Liva Insurance: Established in 2023 through the integration of Al Ahlia Insurance and National Life & General Insurance Company (NLGIC), Liva Insurance is the region's leading multi-line insurance company that provides Motor, Home, Travel, Health, Life and various business insurances serving the GCC region for over 80 years. Liva Insurance is redefining insurance for today's realities, combining local knowledge, passion and presence with global expertise to go beyond premiums, products and policies, providing smart, quick and reliable solutions.
Times of Oman
5 hours ago
- Business
- Times of Oman
Labour Ministry organises conference on drafting legislation to enhance governance
Nizwa: A two-day conference titled "Drafting legislation to enhance governance" kicked off today in the Wilayat of Nizwa. The conference is organized by the Ministry of Labour in cooperation with 'Media Thought' company. The conference aims to exchange expertise among legal departments and public policy specialists. The conference will elaborate on mechanisms for drafting legislation efficiently and effectively. It explores concepts of governance in legislation within the context of digital transition, as well as international experiences in legislative development. The conference is attended by specialists and experts from the Sultanate of Oman and abroad. The participants represent legislative, legal, and audit bodies, judicial and banking institutions, members of legislative and executive councils, academics and researchers in law and public policy. Besides building an integrated legislative system that keeps pace with global economic and technological updates, the conference will contribute to the development of a fair and inspiring business environment that supports the competitiveness of the national economy.
Times of Oman
a day ago
- Business
- Times of Oman
Porsche Centre Oman and Shell Oman to expand EV charging infrastructure in Oman
Muscat: Porsche Centre Oman, SATA L.L.C., has announced a partnership with Shell Oman Marketing Company (Shell Oman) to significantly increase the roll-out of electric vehicle (EV) chargers across Oman. The agreement will see at least eight co-branded Porsche and Shell DC high performance charging stations installed in the Sultanate. Porsche Centre Oman and Shell Oman will also cooperate to install 125 AC Porsche Destination Chargers at convenient locations, allowing Porsche customers to top up, free-of-charge. 'Thursday marks a significant step forward in our commitment to a more sustainable future. Through this collaboration with Shell Oman, we are proud to lead the charge – quite literally – in building the infrastructure needed to support electromobility in the Sultanate,' said Samir Abdul Rasool Qassim Al Zadjali, Chief Executive Officer, Porsche Centre Oman. 'By introducing both high-performance and destination chargers, we are not only meeting the evolving needs of our customers but also supporting Oman's broader vision for electromobility and sustainable progress. Our collaboration with Shell marks a major milestone in accelerating EV adoption in Oman.' Porsche Centre Oman customers who purchase their new EV model from 1 June 2025 will receive a two-year subscription package, which includes 2,250 kWh worth of charging at Porsche-branded DC high performance charging sites at no additional cost. Additional charging is then available at a preferential rate thereafter. Customers will also have the possibility to purchase a subscription package separately. The AC Porsche Destination Chargers will remain free of cost for Porsche owners. The collaboration underscores a mutually strong commitment from Porsche Centre Oman and Shell Oman to support Oman's transition to more sustainable mobility, and aligns with the country's long-term sustainability and electrification vision. 'At Shell, we are committed to driving more sustainable mobility solutions. This partnership reinforces our dedication to providing a reliable EV charging infrastructure in Oman,' said Burair Al Lawati, General Manager – Strategy & Energy Transition, Shell Oman. 'This partnership marks a significant milestone in expanding Oman's EV infrastructure at key destinations. It underscores our commitment to feasible, scalable, and more sustainable consumer-focused solutions, built through strong collaboration with key stakeholders and guided by a clear national roadmap. 'We extend our sincere appreciation to Porsche's authorised importer in Oman, SATA LLC, and to the dedicated teams at Porsche regionally and globally for their instrumental support. 'Together, we are creating a EV ecosystem that empowers motorists with the infrastructure, reliability, and peace of mind they need to make the transition to electric vehicles.'
