Established in 2023 through the merger of Al Ahlia Insurance and National Life & General Insurance Company (NLGIC), Liva is the region's leading multi-line insurance company. The company has a well-diversified profile by product and geography, with a leading market position in Oman and presence in the UAE, Saudi Arabia, Bahrain and Kuwait, as well as planned expansion into Qatar.
Cyborg Score Rationale
Liva Group's ratings reflect a very strong balance sheet, strong operating performance, neutral business profile and appropriate enterprise risk management. However, negative outlooks reflect concerns over underwriting performance and earnings have reduced in recent years from underwriting losses between 2022-2024, with large losses in 2024 from GCC floods resulting in an operating loss of OMR 5 million.
Top Insights
AM Best assigned A- (Excellent) Financial Strength Rating to Liva Insurance subsidiaries in Bahrain and Oman
2023 results showed insurance revenue of OMR 310.8 million (USD 807.2 million) with profit after tax of OMR 6.4 million (USD 16.6 million)
Company introduced customer-centric products including a Rewards Program and WhatsApp insurance service
Received multiple awards including 'Insurance Company of the Year' and 'Best Employer' at Oman Brand Leadership Awards 2024
Named Competitors
Multi-line Insurance Services — Major insurance providers in Gulf Cooperation Council markets
Recent Developments
(February 2025) AM Best assigned A- ratings to Liva Insurance subsidiaries while withdrawing holding company ratings
(2024) Company experienced significant losses from GCC floods, resulting in OMR 5 million operating loss
(2024) Received multiple prestigious awards including Insurance Company of the Year and Best Employer recognition
(2023) Historic merger of NLGIC and Al Ahlia Insurance completed, establishing Liva as regional leader
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