The company is strategically positioned as the pioneer in Oman's Islamic insurance market with a diversified product portfolio across Motor, Non-Motor, Medical, and Family segments. Recent capital raising through Sukuk issuance (OMR 6 million in January 2026) demonstrates strong market confidence and commitment to sustainable growth and regulatory capital strengthening.
Cyborg Score Rationale
Takaful Oman demonstrates solid fundamentals with revenue growth of 14.26% in 2024, recognition as Oman Insurer of the Year 2024, and successful capital market access through perpetual Sukuk issuance. However, limited scale (approximately 90-94 employees) and modest absolute revenue levels ($40.21M) reflect emerging market positioning.
Top Insights
Pioneer position in Oman's Islamic insurance market with first-mover advantage in takaful products
Successful capital strategy: Re-established OMR 25M Sukuk programme with OMR 6M perpetual issuance in Jan 2026, strengthening regulatory capital
Revenue growth momentum with 14.26% YoY increase in 2024 (OMR 22.02M) and profitability restoration (net profit OMR 647,856 in 2023)
Industry recognition: Named Oman Insurer of the Year 2024 and Most Trusted Brand Award in Islamic Insurance category
Named Competitors
Conventional Insurance Products — Traditional insurance offerings in Oman market
Islamic Insurance Services — Competing Islamic insurance options across GCC region
Recent Developments
(January 2026) Successfully re-established OMR 25M Sukuk Al Mudaraba programme with OMR 6M perpetual regulatory capital issuance
(2024) Awarded Oman Insurer of the Year 2024 recognition