MUSCAT INSURANCE CO SAOG

What MUSCAT INSURANCE CO SAOG does

Muscat Insurance Company SAOG is a publicly traded Omani general insurer (SAOG) listed on the Muscat Stock Exchange under ticker MIC, domiciled in Muscat and operating exclusively within the Sultanate of Oman since 1995. The company writes a comprehensive non-life book spanning personal lines (individual motor, travel, domestic helper, householders, personal accident, credit life) and corporate lines (property, marine cargo, marine hull, commercial motor, general accident, workers' compensation/third-party liability, and engineering). Underwriting risk is sourced from both retail consumers and corporate/SME clients via a hybrid segmentation model.

The company distributes through nine physical branches nationwide, a web-based self-service portal (web.muscatinsurance.com), a WhatsApp sales channel, and phone callback requests. Its headcount exceeds 130 employees with an explicit Omanisation rate above 82%, positioning the workforce profile and local presence as a stated differentiator under the tagline 'insurance with a conscience.' The firm was previously known as Muscat National Holding Company SAOG, with Muscat Insurance Company SAOC as a wholly owned subsidiary, and has since been restructured into a standalone SAOG entity.

Revenue is generated almost entirely through insurance premiums collected on personal and corporate policies (motor, travel, property, marine, engineering, casualty, and credit life), with pricing set via individual risk-based quotes rather than published tiers; billing cadence is monthly. The technology stack is described as standard insurance infrastructure with no proprietary AI, automation, or platform extensions. The investor relations function publishes audited and quarterly unaudited earnings on MSX, although no specific revenue or gross written premium figures were provided in the input.

Name

MUSCAT INSURANCE CO SAOG

Legal name

Muscat Insurance Company SAOG

Website

https://micsaog.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

Muscat Insurance Company SAOG is an Oman-domiciled publicly traded general insurer writing personal and corporate non-life products across motor, travel, property, marine, liability, engineering, and accident lines, serving individuals, SMEs, and corporates through 9 branches and digital channels.

Ownership category

akta.pro rank

Product category

General Insurance

NAICS

Direct Property and Casualty Insurance Carriers (524126), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Carriers (5241), Direct Life, Health, and Medical Insurance Carriers (52411)

SIC

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

akta.pro primary industry

Marine & Aviation Insurance (FSAJAMAI)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Inland Marine Insurance (Transit, Equipment & Installation) (FSAJAHAB)

Keywords

• General insurance
• Personal insurance
• Corporate insurance
• Motor insurance
• Marine insurance

Headquarters

HQ city

Ruwi

HQ country

Oman

HQ region

Middle East

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Premiums: Muscat Insurance Company SAOG generates revenue through collection of insurance premiums from personal and corporate insurance policies including motor, travel, property, marine, engineering, and casualty coverage.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

Muscat Insurance Company SAOG provides a comprehensive range of general insurance products and services to corporate, SME and individual customers in the Sultanate of Oman. The company operates two main product divisions — Personal Insurance (motor, travel, domestic helper, householders, personal accident, credit life) and Corporate Insurance (property, marine cargo, marine hull, motor fleet, general accident, workers' compensation/third-party liability, engineering).

Product overview

Muscat Insurance Company SAOG offers a comprehensive portfolio of insurance products organized into two main categories: Personal Insurance and Corporate Insurance. The Personal Insurance division includes six core products: Individual Motor, Travel, Domestic Helper, Householders, Personal Accident, and Individual Credit Life insurance. The Corporate Insurance division offers seven commercial products covering Property, Marine Cargo, Marine Hull, Motor, General Accident, WC/TP Liability, and Engineering insurance. The company serves corporate, SME, and individual customers across the Sultanate of Oman with over 130 employees and 9 branches nationwide.

Differentiator

Problem solved

Functional benefit

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Oman Insurance Company (OIC): Multi-line insurance carrier operating in the GCC with similar personal and commercial product suites including motor, marine, property and engineering. Comparable as a regional composite insurer serving both individual and corporate customers.
• Dhofar Insurance Company SAOG: Omani publicly listed insurer (SAOG) offering personal and commercial lines including motor, marine, property, engineering and liability. Directly comparable as a domestic Omani multi-line competitor on the MSX.
• Takaful Oman Insurance SAOG: Omani SAOG insurer providing Shari'ah-compliant family and general takaful products including motor, property, marine and engineering. Comparable as a domestic Omani competitor with overlapping product categories.
• Al Madina Insurance Company SAOG: Omani SAOG insurer offering personal and commercial lines including motor, property, marine and engineering. Directly comparable as a domestic competitor sharing the same Omani regulatory and market environment.
• National Life and General Insurance Company SAOG: Omani SAOG-listed insurer providing life, motor, health, marine and general accident coverage to individuals and corporates. Comparable as an Omani multi-line peer with similar regulatory and distribution profile.

Broad incumbents

• Qatar Insurance Company (QIC): One of the largest GCC insurance groups offering personal, commercial and specialty lines. Comparable as a broad incumbent in the regional insurance market with overlapping product categories but materially larger scale.

Regional players

• Arabia Insurance Company: Regional GCC insurance group offering personal and commercial lines across multiple Middle Eastern markets. Comparable as a broader regional composite insurer, though it operates across geographies rather than Oman alone.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/muscatinsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 MUSCAT INSURANCE CO SAOG