Dhofar Insurance Company

What Dhofar Insurance Company does

Dhofar Insurance Company S.A.O.G is the Sultanate of Oman's largest insurer by premium and capital, incorporated as an Omani Public Joint Stock Company on 5 September 1989 with current paid-up capital of OMR 14 million, listed on the Muscat Stock Exchange under ticker DICS. The company underwrites a full multi-line insurance portfolio of 16 core products across personal lines (motor, life, medical, travel, home contents, personal accident, borrowers' life) and commercial lines (property, liability, marine, cyber, energy, industrial, engineering, oil & petrochemical, workmen's compensation), and is the largest writer of motor cover in Oman with the country's largest motor-claims handling network. Distribution is led by an unmatched physical footprint of 42 branches across 7 regional areas covering all wilayats, supplemented by an AXSS-powered website, eInsurance Portal, iOS/Android mobile apps, a 24/7 toll-free call centre (8000 77 77), WhatsApp, and email — with a new digital partnership with Khedmah expanding in-app medical insurance distribution. Internally, underwriting and claims run on the Beyontec system and the firm carries an 85% Omanisation rate with an in-house training centre; risk capacity is augmented by international reinsurance partners in Europe, the Middle East and the Far East with the highest credit ratings, enabling Dhofar to underwrite risks exceeding hundreds of millions of Omani Riyals.

The company sells through tiered medical insurance products (Gold/Silver/Green for corporates and SMEs), quote-based commercial lines, and direct-purchase personal lines, with premiums collected on annual and biannual cadences. Revenue mechanics are dominated by recurring insurance premiums and reinsurance ceded arrangements; the most recent disclosed top line is 2020 gross written premium of RO 48.5 million (up 6% from RO 45.63 million in 2019) and net profit of RO 3.8 million (up 42% from RO 2.7 million), with a 10% cash dividend aggregating RO 1 million declared from 2020 results. Customer segments span individuals and families, corporate and SME clients, businesses operating in regional geopolitical risk environments, and oil & petrochemical operators; the company is governed by a board under Chairman Tahir Al Amri and led operationally by CEO Sunil Kohli.

Name

Dhofar Insurance Company

Legal name

Dhofar Insurance Company S.A.O.G

Website

https://dhofarinsurance.com

Company type

Public

Founded year

1989

Operating status

Operating

Headcount range

101–250 employees

Short description

Dhofar Insurance Company S.A.O.G is Oman's largest multi-line insurer, underwriting 16 personal and commercial insurance lines through 42 branches nationwide plus digital channels. It serves individuals, families, SMEs, corporates, and the oil-and-petrochemical sector.

Ownership category

akta.pro rank

Product category

Multi-line Insurance

NAICS

Insurance Carriers (5241), Direct Property and Casualty Insurance Carriers (524126), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

Fire, Marine & Casualty Insurance (6331), Life Insurance (6311), Insurance Carriers, Nec (6399)

akta.pro primary industry

Energy & Power Specialty (Onshore/Offshore) (FSAJAGAI)

akta.pro secondary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

Keywords

• General insurance
• Life insurance
• Medical insurance
• Motor insurance
• Commercial insurance

Headquarters

HQ city

Ruwi

HQ country

Oman

HQ region

Middle East

Offices45 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 Premiums: Core revenue from writing all classes of insurance including motor, life, medical, travel, home, property, liability, marine, cyber, energy, industrial, engineering, oil and petrochemical, personal accident, and workmen's compensation. Premium collection is recurring in nature with annual/biannual payment options.
2. Reinsurance Ceded Premiums: Reinsurance arrangements with international partners enable underwriting of large risks beyond hundreds of millions of Omani Riyals

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels10 records

Core offering

Dhofar Insurance Company S.A.O.G is Oman's largest insurance company by premium and capital, underwriting a broad range of personal and commercial insurance products — including motor, life, medical, travel, property, marine, energy, and engineering lines. The company distributes these offerings through the country's largest branch network of 42 outlets, supported by digital channels (mobile apps, eInsurance portal, call center) and partners such as banks, brokers, and corporate agents.

Product overview

Dhofar Insurance Company S.A.O.G is an Omani insurance company operating as a multi-line insurance provider offering a comprehensive portfolio of 16 core insurance products. The company provides personal lines (Motor, Life, Medical, Travel, Home Contents, Personal Accident), commercial lines (Property, Liability, Marine, Engineering, Energy, Industrial, Oil and Petrochemical), and specialized covers (Cyber, Workmen's Compensation, Borrowers Life Insurance). The products range from basic third-party coverage to comprehensive enterprise-level risk solutions, supported by a nationwide network of 42 branches across Oman and digital channels including mobile apps and online purchase portals.

Differentiator

Problem solved

Functional benefit

Products and services

• Motor Insurance
• Life Insurance
• Medical Insurance
• Travel Insurance
• Home Contents Insurance
• Property Insurance
• Liability Insurance
• Marine Insurance
• Cyber Insurance
• Energy Insurance
• Industrial Insurance
• Engineering Insurance
• Oil and Petrochemical Insurance
• Personal Accident Insurance
• Workmen's Compensation Insurance
• Borrowers Life Insurance

Quantifiable outcome

• 6% revenue growth from RO 45.63 million (2019) to RO 48.5 million (2020)
• +1 more outcomes

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

Two partnerships are on record, tiered core.

• KhedmahcoreStrategic or Co-development Partner · 6 January 2026Khedmah, Oman’s leading digital payments and services platform, partnered with Dhofar Insurance to launch comprehensive in-app medical insurance solutions. The offering provides coverage for individuals, families, SMEs, and households, including worker health cover, domestic worker medical insurance, and individual medical plans. This partnership expands Khedmah's digital service portfolio while enhancing access to essential health coverage across the Sultanate of Oman.
• International Reinsurance PartnerscoreOthersInternational reinsurance partners in Europe, Middle East and Far East provide reinsurance support and training, enabling Dhofar Insurance to insure very large risks beyond hundreds of millions of Omani Riyals. Partners have large capacities and highest international ratings. The company has systematically increased both net retention and overall capacity through these partnerships.

Scale indicators9 records

Recent moves5 records

Expansion highlights4 records

Regional players

• Qatar Insurance Company: Largest GCC insurer by premium, headquartered in Qatar with regional offices. Comparable in product breadth (life, motor, medical, energy, marine) but operates primarily outside Oman.
• Gulf Union Cooperative Insurance: Saudi-listed cooperative insurer offering P&C, medical and motor cover. Comparable multi-line profile to Dhofar but serving the Saudi market rather than Oman directly.

Others

• Bupa Arabia: Leading GCC health insurance specialist. Comparable to Dhofar's medical insurance business and partnership-led distribution approach (similar to Khedmah), though focused primarily on Saudi Arabia.

Direct peers

• Muscat Insurance Company SAOG: Omani-listed multi-line insurance carrier providing motor, property, marine, engineering and medical cover within Oman. Closely comparable product portfolio and customer base to Dhofar.
• National Life and General Insurance Company (NLG Insurance): Omani insurance carrier offering motor, medical, life, marine and general insurance across the Sultanate. Direct competitor to Dhofar in the same domestic multi-line market with overlapping distribution and product breadth.
• Takaful Oman Insurance Company: Omani takaful (Islamic insurance) operator offering family, motor, medical, fire and general takaful products. Competes head-to-head with Dhofar in Oman across both retail and corporate segments.
• Al Madina Takaful Insurance Company: Omani takaful insurer underwriting family, medical, motor, fire and general takaful. Direct peer serving the same Omani customers with a comparable product lineup.

Broad incumbents

• GIG Gulf (formerly AXA Gulf): Multi-line regional insurer operating across UAE, Oman, Bahrain, Qatar and Kuwait. Larger portfolio and reinsurance capacity than Dhofar, with overlapping product coverage.
• AXA Insurance Gulf: Global insurance incumbent operating across the GCC with motor, health, life and P&C lines. A broad incumbent whose Gulf presence overlaps with Dhofar in corporate, motor and medical segments.
• Sukoon (formerly Oman Insurance Company): UAE-headquartered multi-line insurer with regional GCC presence including Oman. Larger balance sheet and broader regional footprint make it a broad incumbent competing with Dhofar on corporate and specialty lines.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key highlights7 records

Customer concentration

• Xx.com/InsuranceDhofar
• YouTubeyoutube.com/channel/UCpt4ZDQY-SHfGQdz_QVOn1g?view_as=subscriber
• Facebookfacebook.com/DhofarInsurance
• Instagraminstagram.com/dhofarinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Dhofar Insurance Company