The IAIS has published its detailed assessment of regulation and supervision of the insurance sector in the Sultanate of Oman through its Member Assessment Programme (MAP).
The MAP Oman report is a detailed assessment of regulation and supervision of the insurance sector in the Sultanate of Oman. The report contains the details of the assessment of the observance levels of the ICPs as well as distinct recommendations to improve observance levels of ICPs. It also includes the authority’s response to the assessment as well as an institutional and market overview.
The IAIS published for consultation its draft Issues Paper on structural shifts in the life insurance sector. Feedback is sought by 19 May 2025.
The list provides transparency to markets, policyholders and the larger public that the reported insurers and relevant authorities are working to be prepared for the insurers’ entry into resolution if it ever becomes necessary. The IAIS welcomes this publication and coordinates closely with the FSB with respect to resolvability, to support the globally consistent application of the resolution standards.
At its AGM today, the IAIS adopted the first comprehensive global capital standard for insurance supervision, the ICS, and also adopted important updates to existing qualitative global standards for insurance supervision, the ICPs and ComFrame, related to climate risk, recovery and resolution, and valuation and capital adequacy.
