{"id":4290,"date":"2025-12-17T15:00:45","date_gmt":"2025-12-17T16:00:45","guid":{"rendered":"https:\/\/beijingcareer.com\/?p=4290"},"modified":"2025-12-17T18:25:42","modified_gmt":"2025-12-17T18:25:42","slug":"fitch-upgrades-oman-res-credit-rating-assigns-stable-outlook","status":"publish","type":"post","link":"https:\/\/beijingcareer.com\/index.php\/2025\/12\/17\/fitch-upgrades-oman-res-credit-rating-assigns-stable-outlook\/","title":{"rendered":"Fitch upgrades Oman Re\u2019s credit rating, assigns stable outlook"},"content":{"rendered":"

Fitch Ratings has upgraded Oman Re’s Insurer Financial Strength (IFS) Rating to ‘BBB’ from ‘BBB-‘, assigning a Stable Outlook.<\/p>\n

\"\"According to Fitch, the upgrade reflects reduced investment and asset risk following the upgrade of the Oman’s sovereign rating to ‘BBB-‘ on 8 December 2025.<\/p>\n

The reduction in investment and asset risk were the primary drivers for the upgrade, the rating agency stated, noting the strong correlation between Oman Re\u2019s financial health and the sovereign\u2019s credit quality.<\/p>\n

Following the upgrade of Oman\u2019s sovereign rating, the proportion of Oman Re\u2019s \u201crisky assets\u201d relative to its capital improved significantly, dropping to 46% as of October 2025, down from 72% at the end of 2024.<\/p>\n

A majority of the company\u2019s investments (57% at end-2024) are held in Omani sovereign bonds and term deposits with local banks. As the sovereign rating improved, these assets were reclassified to a lower risk category.<\/p>\n

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Fitch highlights the company\u2019s capitalisation as a key strength, supported by a \u2018Strong\u2019 score in Prism Global model, and expects this to remain at end-2025. The reinsurer maintains a healthy local solvency margin of 167% (end-2024) and operates with zero debt.<\/p>\n

Despite challenges in the wider market, Fitch noted that Oman Re has delivered robust financial results, reporting an increased net profit after tax of OMR 3.0 million, driven by solid underwriting and investment returns.<\/p>\n

The company also reported a combined ratio of 94% for 2024, a figure that Fitch considers as strong, even after accounting for slight increase caused by flood losses in the UAE.<\/p>\n

While Oman Re has a well-diversified franchise across the Middle East, Turkey, and Central\/Eastern Europe, Fitch notes that its operating scale remains small compared to global peers, with gross reinsurance revenue of approximately OMR 50 million (USD 130 million) in 2024.<\/p>\n

The Stable Outlook reflects Flitch\u2019s expectation that the company will maintain its capitalisation strength and underwriting discipline.<\/p>\n

According to the rating agency, a further upgrade would likely require another upgrade of Oman\u2019s sovereign rating or a significant increase in the company\u2019s size and scale while maintaining performance.<\/p>\n

A negative rating action could be triggered by a downgrade of the sovereign or a decline in capitalisation to the low end of \u2018Adequate\u2019 range.<\/p>\n

The post Fitch upgrades Oman Re’s credit rating, assigns stable outlook<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fitch Ratings has upgraded Oman Re’s Insurer Financial Strength (IFS) Rating to ‘BBB’ from ‘BBB-‘, assigning a Stable Outlook. According to Fitch, the upgrade reflects reduced investment and asset risk following the upgrade of the Oman’s sovereign rating to ‘BBB-‘ on 8 December 2025. The reduction in investment and asset risk were the primary drivers […]<\/p>\n","protected":false},"author":1,"featured_media":4292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"_links":{"self":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts\/4290"}],"collection":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/comments?post=4290"}],"version-history":[{"count":3,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts\/4290\/revisions"}],"predecessor-version":[{"id":4294,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/posts\/4290\/revisions\/4294"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/media\/4292"}],"wp:attachment":[{"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/media?parent=4290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/categories?post=4290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beijingcareer.com\/index.php\/wp-json\/wp\/v2\/tags?post=4290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}