Takaful Oman Insurance

What Takaful Oman Insurance does

Takaful Oman Insurance S.A.O.G is Oman's first dedicated Takaful (Islamic-compliant) insurance company, founded in 2013 and publicly listed on the Muscat Stock Exchange (MSM:TAOI). It offers 18 distinct insurance products spanning motor Takaful, individual and group health, travel, domestic helper, individual credit life, life, and commercial lines including property all risk, erection all risk, contractor all risk, contractor plant and machinery, workmen's compensation, fidelity guarantee, money, public liability, fire and allied perils, marine cargo, and personal accident. All products operate under Shari'a principles via Wakala and Mudaraba contracts supervised by a dedicated Shari'a Supervisory Committee.

The company's operations rest on a hybrid digital-physical platform: a self-serve online portal (buyonline.takafuloman.om) that issues instant motor quotes from plate and license inputs, registers claims digitally, offers a 10% online purchase discount across four core product lines, and delivers quotes over WhatsApp; a network of 18+ approved cashless garages for motor repairs; and a MedNet integration for digital health claims reimbursement. Distribution combines this direct digital channel with 10+ physical branches across Oman (Muscat HQ, Muscat Main, Sohar, Nizwa, Ibri, Salalah, Al Khoudh, Al Buraimi, Qurm Beach, Barka), an 18+ partner agent/sub-agent network covering secondary towns, and a corporate sales team for group and employer-sponsored plans.

Revenue is generated primarily through periodic Takaful contributions across its general and family lines under a Wakala model — shareholders charge 13% Wakalah fees on gross contributions and a 50% Mudarib share on investment income from participants' fund assets. Ownership is dominated by Omani institutional investors including Oman Investment Authority, OMINVEST, Jabreen International Development, Al Khonji Investment, Tanmia, and Tazur Takaful Insurance, providing capital stability; an embedded distribution arrangement with Oman Air (announced July 2026) extends reach into airline passenger flows. The combined offering targets individual retail consumers, households employing domestic workers, employers/corporates, and construction and commercial enterprises across Oman.

Name

Takaful Oman Insurance

Legal name

Takaful Oman Insurance S.A.O.G

Website

https://takafuloman.om

Company type

Public

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Takaful Oman Insurance S.A.O.G is Oman's first Shari'a-compliant Takaful insurer, offering 18 general and family insurance products (motor, health, travel, life, property, engineering, liability, marine) to individuals, employers, and commercial enterprises across Oman through a multi-channel digital and branch-based distribution network.

Ownership category

akta.pro rank

Product category

Takaful Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Insurance Carriers (5241), Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399), Accident & Health Insurance (6321)

akta.pro primary industry

Travel & Accident (Non-Life) Insurance (FSAJAMAN)

akta.pro secondary industries

Inland Marine / Personal Articles & Valuable Items Insurance (FSAJACAJ), Baggage & Personal Effects Insurance (FSAJAJAE)

Keywords

• Islamic insurance services
• Takaful insurance products
• Sharia compliant insurance
• General insurance lines
• Family takaful plans

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Insurance Premium Revenue: Takaful Oman generates revenue primarily through insurance premiums collected from policyholders across its comprehensive range of Takaful insurance products. Premiums are collected as periodic contributions (annual/single premium depending on product) and represent the core revenue stream for both general Takaful (motor, property, marine, engineering, travel, domestic helper) and family/life Takaful lines. The company operates under a Wakala fee model where shareholders charge 13% wakalah fees on gross contributions and 50% mudarib share on investment income from the participants' fund.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Takaful Oman Insurance is the first Takaful (Shari'a-compliant) insurance company in Oman, offering 18 distinct insurance products across general and family Takaful lines under Wakala and Mudaraba contracts supervised by a Shari'a Supervisory Committee. The portfolio serves both individual consumers (motor, travel, individual health, life, personal accident, domestic helper, individual credit life) and corporate clients (group health, property all risk, erection all risk, contractor all risk, contractor plant and machinery, workmen compensation, fidelity guarantee, money, public liability, fire and allied perils, marine), distributed via an online self-serve portal, branches, agents, and partnership channels.

Product overview

Takaful Oman Insurance is an Islamic-compliant (Sharia-compliant) Takaful insurance company offering a comprehensive portfolio of 18 distinct insurance products across multiple categories. The product portfolio includes Motor Takaful, Health Insurance (Individual and Group), Travel Insurance, Domestic Helper Insurance, Life Insurance, Individual Credit Life Insurance, and Property/Engineering Insurance products (Property All Risk, Erection All Risk, Contractor All Risk, Contractor Plant and Machinery). The company also offers liability and specialized insurance products including Workmen Compensation, Fidelity Guarantee, Money, Public Liability, Fire and Allied Perils, Marine, and Personal Accident. All products operate under Islamic finance principles (Wakala and Mudaraba contracts) and are designed to serve both individual and corporate customers in Oman through multiple distribution channels including online platforms, branches, and agents.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Takaful Comprehensive and third-party motor vehicle insurance providing protection against accidents, theft, natural disasters, and third-party liability for individual motorists in Oman, with optional add-ons including agency repair, GCC coverage, and roadside assistance.
• Individual Health (Takaful) Health insurance coverage for individuals and families, providing access to healthcare services including inpatient care, outpatient services, and preventive care through a network of hospitals, with optional add-ons for dental (OMR 200 cap), optical (OMR 150 cap), and maternity (OMR 750 cap) at 20% co-pay.
• Group Health (Group Family Takaful Plan) Group medical insurance providing comprehensive healthcare solutions for employers to cover their employees, including inpatient care, outpatient services, and optional dental, maternity, and optical benefits.
• Travel Insurance (Takaful) International travel insurance covering medical emergencies, lost baggage, trip cancellation, passport loss, emergency evacuation, and repatriation, available for single trips with coverage to USA/Canada/Australia/Japan, MENA/Southeast Asia, Schengen, and worldwide destinations.
• Domestic Helper (Takaful) Insurance coverage for domestic workers including life insurance (death and disability benefits) and health insurance covering medical expenses, hospitalization, and repatriation costs.
• Individual Credit Life (Takaful) Credit protection insurance covering personal loans, vehicle financing, housing finance, and other loans in case of death or permanent disability, protecting borrowers and their families.
• Life Insurance (Takaful) Islamic-compliant life insurance providing financial protection and death benefits to beneficiaries, serving as a financial safety net for individuals and families.
• Property All Risk (Takaful) All-risk property insurance covering residential and commercial properties against physical loss or damage, including buildings, machinery, inventory, and household goods.
• Erection All Risk (Takaful) Installation and erection insurance protecting against risks during construction and installation phases of complex projects, covering materials, equipment, and third-party liability.
• Contractor All Risk (Takaful) Contractors all-risk insurance providing comprehensive coverage for construction projects against physical loss during construction, covering building works, materials, and equipment at the site.
• Contractor Plant and Machinery (Takaful) Contractor's plant and machinery insurance covering construction equipment and machines against sudden physical damage during operation, dismantling, or repair.
• Workmen Compensation (Takaful) Workers' compensation insurance mandatory for employers, covering medical expenses, death benefits, disability compensation, and repatriation costs for work-related injuries and illnesses.
• Fidelity Guarantee (Takaful) Fidelity bond insurance protecting businesses against financial losses from employee fraud, theft, embezzlement, and dishonest acts including forgery and internet banking fraud.
• Money (Takaful) Money insurance covering loss or theft of cash, currencies, and marketable securities during transit between premises and banks, and within premises in safes or cash registers.
• Public Liability (Takaful) Public liability insurance protecting businesses against third-party claims for bodily injury or property damage occurring on their premises or due to their operations.
• Fire and Allied Perils (Takaful) Fire and allied perils insurance covering properties against fire, explosions, lightning, earthquakes, storms, floods, water damage, and burglary, with optional business interruption coverage.
• Marine (Takaful) Marine cargo insurance protecting goods during sea, air, or land transport against physical loss or damage, available as single voyage, open marine, or open coverage policies.
• Personal Accident (Takaful) Personal accident insurance providing coverage for accidental death, bodily injury, and disability resulting from accidents, with benefits for medical expenses and income loss.

Quantifiable outcome

• 10% online discount available on motor, travel, domestic helper, and health insurance purchased digitally

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

One partnership is on record.

• Oman AirminorGTM or Marketing Partner · 14 July 2026Oman Air signed Takaful Oman as its local partner to provide travel insurance services to airline passengers. The partnership was announced on July 14, 2026. Takaful Oman will provide travel insurance coverage to Oman Air customers, expanding access to the airline's traveler base. No further details on terms, scope, or strategic significance were disclosed.

Scale indicators5 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Al Madina Takaful: Oman-based Takaful insurer. Most direct domestic competitor, operating in the same Shari'a-compliant niche across overlapping distribution channels in Oman.
• Oman United Insurance Company: One of Oman's largest established insurers offering P&C, life and health cover. Comparable as a domestic multi-line competitor sharing the same regulatory and customer environment.
• National General Insurance Company (Oman): Omani general insurer offering motor, property, marine and health lines. Direct domestic competitor across Takaful Oman's core general insurance products.
• Takaful International Company (Bahrain): Bahraini Takaful operator serving GCC markets with family, motor and general Takaful products. Comparable as a regional Takaful peer of similar scale.

Direct peers

• Salama Cooperative Insurance Company: Saudi-listed cooperative (Takaful) insurer providing motor, health, property and engineering cover. Closely comparable in operating model (Shari'a-compliant, multi-line retail and corporate book, GCC market).
• Saudi Enaya Cooperative Insurance: Saudi cooperative health insurer with Takaful structure. Comparable as a regionally adjacent Shari'a-compliant health-led cooperative insurer with similar regulatory and competitive dynamics.
• Watania Takaful (Dar Al Takaful merged): UAE Takaful operator providing family, motor and general Takaful. Comparable in scale and Shari'a-compliant product mix to Takaful Oman's family/general book.
• Takaful Emarat - Insurance: UAE-listed Shari'a-compliant Takaful insurer offering motor, health, life and group takaful products. Comparable as a GCC Takaful carrier competing in similar product lines and distribution structures (digital + agents).
• AMAN Insurance (Dubai Islamic Insurance & Reinsurance): UAE Takaful operator offering family, health, motor and general Takaful. Direct competitor in the regional Islamic insurance market with overlapping product suite.

Broad incumbents

• AXA Insurance Gulf (Oman operations): Global insurer with a strong Gulf and Oman presence offering motor, health, property and travel products. Comparable as a broad-line incumbent that competes across Takaful Oman's entire product portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/TakafulOmanSAOG

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Takaful Oman Insurance