Oman Economic Review – August 2018

advanced, faster system altogether
as it is important to keep up with
technology,” said Philip. “We also
proudly present to everyone, our new
website. It has been designed carefully
keeping in mind the user experience
and feel, much faster and advanced. We
plan to offer branch-like experience to
our customers and extend our services
to our customers in Oman and across
the region.”

Says Dr Thomas Alexander, CEO of
Al Adrak Trading and Contracting,
“We have been dealing with Muscat
Insurance Company (MIC) since
1995 and they have provided hassle-
free services. I have no complaints

whatsoever and we plan to continue

with them for a long time to come.”

In expansion mode

The company is planning to expand

its operations outside the sultanate

and is looking to increase the number

of branches in the next year. “We are

now trying to target a wider range of

customers and planning to open more

branches. We opened three branches in

2017 and added two more branches in

2018,” said Aimen bin Ahmed Sultan al

Hosni, chairman of the company.” He

adds: “We believe if you provide better

services, you will attract customers

from diverse backgrounds. We are

even trying to go beyond the borders

of Oman in the coming years. I think

there is a good potential for growth

in the Middle East and North Africa

(MENA) region.”

Muscat Insurance collected total pre-

mium of around RO18mn in 2017, and

expects to close this year with a growth

of around ten per cent. The company

now has 22 branches and their target

is to reach 25 branches by next year

when they will start celebrating the

completion of 25 years of operations.

On overseas expansion plans, the CEO

said the company would first look

at expanding foot print in other GCC

countries, and will soon initiate the

process of applying for licenses.