Insurance Firms Pay RO 79.8 Million in Motor Claims: What This Means for Oman’s Insurance Sector and Businesses
Muscat, Feb 24 – Preliminary figures from the Financial Services Authority (FSA) reveal that insurance companies recorded approximately 75,300 traffic accidents in 2025, a slight increase of 0.1% compared to 75,200 accidents in 2024. Among these, minor accidents accounted for 54,271 cases, or 72.1% of the total, while serious accidents numbered 20,993, representing 27.9%. Notably, serious accidents rose by 13.2% from the previous year, indicating a concerning shift toward more severe incidents.
The total number of traffic accident claims in 2025 surpassed 77,000, up 1% from 76,500 claims in 2024. Claims related to minor accidents decreased by 4%, dropping to just over 54,000 from 56,200. Conversely, claims for serious accidents involving only material damage increased by 10%, reaching around 11,000 compared to 9,900 in 2024. Claims for serious accidents with injuries and medical expenses rose significantly by 17%, totaling nearly 12,000 against 10,000 the previous year. Fatality claims also saw a slight increase of 3%, with 342 claims in 2025 compared to 333 in 2024.
Total compensation payments in 2025 exceeded RO 79.8 million, marking a 1.47% rise from RO 78.7 million in 2024. This figure includes both paid compensation and claims under settlement. Compensation distribution was as follows: RO 34.04 million for minor accidents, down 9.1%; RO 18.88 million for serious accidents with material damage; and over RO 22.47 million for serious accidents involving injuries and medical expenses, a substantial increase of 26.67% from RO 17.7 million in 2024. Compensation for fatalities decreased by 7.15%, falling to RO 4.45 million from RO 4.8 million the previous year.
Special Analysis by Omanet | Navigate Oman’s Market
The rise in serious traffic accidents and related claims in Oman, despite a stable overall accident count, signals increasing risk exposure for insurance firms and businesses reliant on transport. This trend presents a critical opportunity for smart investors to explore innovative risk management solutions and advanced safety technologies to mitigate growing costs. Entrepreneurs should consider developing services around accident prevention, health care, and claims management to capitalize on this evolving insurance landscape.
