Sukoon (Oman Insurance) announced recording a profit of 223.6 million dirhams by the end of 2022, compared to 206.12 million dirhams, the company's profits in 2021, an increase in profits by 8%.
Total insurance premiums (Sukoon) last year amounted to about 4.3 billion dirhams, a growth of 22.85%, compared to 3.5 billion dirhams in 2021. The total insurance premiums written in general insurance business increased by 31%, to reach 2.15 billion dirhams, compared to 1.63 billion dirhams in 2021.
Gross insurance premiums written in the life and medical insurance sector of Sukoon increased by 18% to reach 2.24 billion dirhams, compared to 1.9 billion dirhams in 2021. This was coupled with strong claims management, which reduced the net claims incurred to 718.5 million dirhams in 2022, compared to 745.5 million dirhams in 2021.
The total assets of the Sukoon Group at the end of 2022 amounted to 9.18 billion dirhams, compared to 7.57 billion dirhams at the end of 2021. The total equity of shareholders of the group last year amounted to 2.46 billion dirhams, compared to 2.23 billion dirhams at the end of 2021.
