Half Year 2026 Dhofar Insurance Co SAOG Earnings Call
Speaker #1: بسم الله الرحمن الرحيم. الأفاضل المستثمرون الكرام، السلام عليكم ورحمة الله وبركاته. يسرّنا أن نرحّب بكم في الجلسة النقاشية التي تعقدها الشركة بالتنسيق مع بورصة مسقط لاستعراض النتائج المالية غير المدققة للنصف الأول من هذا العام 2026. ويسعدنا جميعًا أن نشكر لكم تلبية الدعوة وحضوركم.
Younis Salim Al Salti: بسم الله الرحمن الرحيم. الأفاضل المستثمرون والمحللون الماليون الحضور الكرام. السلام عليكم ورحمة الله وبركاته. يسعدنا أن نرحب بكم في الجلسة النقاشية التي تعقدها شركة بالتنسيق مع بورصة مسقط لاستعراض النتائج المالية غير المدققة للنصف الأول من هذا العام 2026. ويسعدنا جميعًا أن نشكركم على تلبية الدعوة وحضوركم، الذي يعكس اهتمامكم المستمر بمتابعة أداء الشركة وتطورها. تأتي هذه الجلسة في إطار التزام شركة ظفار للتأمين بأعلى معايير الشفافية والإفصاح، وتعزيز التواصل المستمر مع المستثمرين والمحللين الماليين، من خلال استعراض الأداء المالي للشركة ومناقشة أبرز المستجدات، والإجابة عن استفساراتكم بكل وضوح وشفافية. سوف يقوم الأفاضل سونيال كوخلي، الرئيس التنفيذي لشركة ظفار للتأمين، بتقديم عرضنا حول أبرز النتائج المالية للفترة، إلى جانب أهم التوجهات المستقبلية للشركة، قبل أن نفتح المجال لأسئلتكم ومداخلاتكم. يحضر هذه الجلسة كل من الأفاضل شيكر المدير المالي، والأفاضل أحمد العناي مدير الرقابة على الائتمان، بالإضافة إلى يونس، مدير علاقات المستثمرين.
Younis Salim Al Salti: [Foreign language]
Speaker #1: يعكس اهتمامكم المستمر بمتابعة أداء الشركة وتطورها. تأتي هذه الجلسة في إطار التزام شركة ظفار للتأمين بأعلى معايير الشفافية والإفصاح، وتعزيز التواصل المستمر مع المستثمرين والمحللين الماليين، من خلال استعراض الأداء المالي للشركة ومناقشة أبرز المستجدات والإجابة عن استفساراتكم بكل وضوح وشفافية.
Speaker #1: سوف يقوم الفاضل سونيل كوهلي، الرئيس التنفيذي لشركة ظفار للتأمين، بتقديم عرضنا حول أبرز النتائج المالية للفترة، إلى جانب أهم التوجهات المستقبلية للشركة، قبل أن نفتح المجال لأسئلتكم ومداخلاتكم.
Speaker #1: يحضر هذه الجلسة كل من الفاضل شيكر، المدير المالي؛ والفاضل أحمد الهنائي، مدير رقابة على الائتمان؛ بالإضافة إلى يونس السلطي، مدير علاقات الاستثمارات، أو علاقات المستثمرين.
Speaker #1: فليتفضل الآن الأستاذ سونيل كوهلي، ونتطلع إلى جلسة مثمرة وحوار بنّاء إن شاء الله.
Younis Salim Al Salti: فليتفضل الآن الأستاذ سونيال كوخلي، ونتطلع إلى جلسة مثمرة وحوار بناء إن شاء الله.
Younis Salim Al Salti: [Foreign language]
Speaker #2: Thank you, Mr. Yunus, for your introduction. I would like to welcome all the participants to today's interaction. We will start the presentation, and at the end of the presentation we will be open to any questions you may have.
سونيال كوخلي: Thank you Mr. Yunus for your introduction. I welcome all the participants of today's interaction. Welcome all. We will start the presentation, and at the end of the presentation, we will be open to take any questions if you have. Dhofar Insurance has the vision to become the insurer of choice for all stakeholders. Our values are to give the service to our customers with integrity in all our actions and responsibility to all our stakeholders. We want to be acknowledged as a first-class insurer that adheres to the highest standards of business principles and ethics. With this in mind, we carry out all our activities, and we work towards achieving the best possible within our vision, mission, and values. Just to give a background, Dhofar Insurance started in 1989.
Sunil Kohli: Thank you Mr. Yunus for your introduction. I welcome all the participants of today's interaction. Welcome all. We will start the presentation, and at the end of the presentation, we will be open to take any questions if you have. Dhofar Insurance has the vision to become the insurer of choice for all stakeholders. Our values are to give the service to our customers with integrity in all our actions and responsibility to all our stakeholders. We want to be acknowledged as a first-class insurer that adheres to the highest standards of business principles and ethics. With this in mind, we carry out all our activities, and we work towards achieving the best possible within our vision, mission, and values. Just to give a background, Dhofar Insurance started in 1989.
Speaker #2: Dhofar Insurance has the vision to become the insurer of choice for all stakeholders, and our values are to provide service to our customers with integrity in all our actions and responsibility to all stakeholders.
Speaker #2: We want to be acknowledged as a first-class insurer that adheres to the highest standards of business principles and ethics. With this in mind, we carry out all our activities, and we work toward achieving the best possible within our vision, mission, and values.
Speaker #2: Dhofar Insurance, just to give a background, started in 1989. We began with small offices, and today we are present in more than 42 branches across certain parts of Oman.
سونيال كوخلي: We started with small office, and today we are present in more than 42 branches all across certain parts of Oman. Besides our physical brick-and-mortar offices, we also have online channels and relationship with various distribution agents, brokers, as well as bancassurance partners. All these distribution channels help us to take our service and products nearer to our customers. Our board is well-diversified, and independent directors are there, and very qualified board directors are there with diversified experience in banking, investment, insurance, actuarial practices, plus management and technology. A fully qualified and diversified board is there to help us achieve our vision. Management is having professional team members at various levels who are giving leadership, who are working operationally and guiding the team to the objectives which we want to achieve. I will take you through the Oman insurance market outlook.
Sunil Kohli: We started with small office, and today we are present in more than 42 branches all across certain parts of Oman. Besides our physical brick-and-mortar offices, we also have online channels and relationship with various distribution agents, brokers, as well as bancassurance partners. All these distribution channels help us to take our service and products nearer to our customers. Our board is well-diversified, and independent directors are there, and very qualified board directors are there with diversified experience in banking, investment, insurance, actuarial practices, plus management and technology. A fully qualified and diversified board is there to help us achieve our vision. Management is having professional team members at various levels who are giving leadership, who are working operationally and guiding the team to the objectives which we want to achieve. I will take you through the Oman insurance market outlook.
Speaker #2: Besides our physical brick-and-mortar offices, we also have online channels and relationships with various distribution agents, brokers, as well as bancassurance partners. All these distribution channels help us to bring our services and products closer to our customers.
Speaker #2: Our board is well diversified, and independent directors are there, and very qualified board directors are there, with diversified experience in banking, investment, insurance actuarial practices, plus management.
Speaker #2: And technology. So very well fully qualified and diversified board is there to help us achieve our vision. And management is having professional team members at various levels who are giving leadership, who are working operationally, and guiding the team to the objectives which we want to achieve.
Speaker #2: I'll take you through the Oman insurance market outlook. Overall, Oman insurance market gross written premium is 341 million Omani riyals, which is showing a growth of approximately 7.9%.
سونيال كوخلي: Overall, Oman insurance market gross written premium is 341 million OMR, which is having a growth of approximately 7.9%. Life insurance segment has grown by 7.5% overall in the Oman insurance market, medical by around 11%, and general insurance by 6.6%. However, it is pertinent to note that 8 listed companies contribute more than 80% of the total GWP. One other significant point to be noticed is that profitability of the 8 listed companies has declined by 5.4% during the period we are talking about. When we look at the composition of the market, around 66% is with national companies, 19% with the foreign companies, and 15% business is with the local companies.
Sunil Kohli: Overall, Oman insurance market gross written premium is 341 million OMR, which is having a growth of approximately 7.9%. Life insurance segment has grown by 7.5% overall in the Oman insurance market, medical by around 11%, and general insurance by 6.6%. However, it is pertinent to note that eight listed companies contribute more than 80% of the total GWP. One other significant point to be noticed is that profitability of the eight listed companies has declined by 5.4% during the period we are talking about. When we look at the composition of the market, around 66% is with national companies, 19% with the foreign companies, and 15% business is with the local companies.
Speaker #2: The life insurance segment has grown by 7.5% overall in the Oman insurance market, medical by around 11%, and general insurance by 6.6%. However, it is pertinent to note that eight listed companies contribute more than 80% of the total GWP.
Speaker #2: However, one other significant point to note is that the profitability of the eight listed companies has declined by 5.4% during the period we are discussing.
Speaker #2: When we look at the composition of the market, around 66% is with national companies, 19% with foreign companies, and 15% with Takaful companies.
Speaker #2: Another matrix for the Dhofar Insurance we would, which I would like to highlight during today's presentation, is that for the H1 of 2026, the gross return premium is almost similar, just down by 2% compared to the last year, and we are ranked as the largest insurer for the Omani business.
سونيال كوخلي: Another matrix for the Dhofar Insurance which I would like to highlight during today's presentation is that for the H1 of 2026, the gross written premium is almost similar, just down by 2% compared to the last year. We are ranked as the largest insurer for the Omani business. Our market share is 16.6%. Insurance revenue is also flat compared to the last year. When we look at profitability, however, there is a significant growth of around 55% compared to the same period last year compared to present H1 under discussion. When we look at our investment book, our investment book has increased by 18% due to better cash flow from our operating activities, which has contributed to adds to our existing investment book and increase it significantly by 18%. Our investment income has also grown quite well, by 95%.
Sunil Kohli: Another matrix for the Dhofar Insurance which I would like to highlight during today's presentation is that for the H1 of 2026, the gross written premium is almost similar, just down by 2% compared to the last year. We are ranked as the largest insurer for the Omani business. Our market share is 16.6%. Insurance revenue is also flat compared to the last year. When we look at profitability, however, there is a significant growth of around 55% compared to the same period last year compared to present H1 under discussion. When we look at our investment book, our investment book has increased by 18% due to better cash flow from our operating activities, which has contributed to adds to our existing investment book and increase it significantly by 18%. Our investment income has also grown quite well, by 95%.
Speaker #2: And our market share is 16.6%. Insurance revenue is also flat compared to last year. However, when we look at profitability, there is significant growth of around 55% compared to the same period last year, versus the present H1 under discussion.
Speaker #2: When we look at our investment book, our investment book has increased by 18% due to better cash flow from our operating activities, which has contributed to adding to our existing investment book and increasing it significantly by 18%.
Speaker #2: Our investment income has also grown quite well, by 95%, and return on investment has also significantly improved by around 50% compared to the same period last year.
سونيال كوخلي: Return on investment is also significantly improved by around 50% compared to the same period last year. Other KPIs I would like to bring your attention to is that we have a very well-balanced portfolio mix of various products. Over a period of last four to five years, we have taken conscious decision to spread our business in the profitability lines, as well as not to be over-relying on one line of business to be avoiding any shocks which can come from the one single line of business if there is an over-reliance on one. If you look at none of the portfolio is more than 30%, and most of the three large portfolios are in their 20s, and others are 12, seven, and nine. So it is a quite well-balanced portfolio, and we are working more to increase our business in the profitable lines of business.
Sunil Kohli: Return on investment is also significantly improved by around 50% compared to the same period last year. Other KPIs I would like to bring your attention to is that we have a very well-balanced portfolio mix of various products. Over a period of last four to five years, we have taken conscious decision to spread our business in the profitability lines, as well as not to be over-relying on one line of business to be avoiding any shocks which can come from the one single line of business if there is an over-reliance on one. If you look at none of the portfolio is more than 30%, and most of the three large portfolios are in their 20s, and others are 12%, 7%, and 9%. So it is a quite well-balanced portfolio, and we are working more to increase our business in the profitable lines of business.
Speaker #2: Other KPIs which I would like to bring to your attention are that we have a very well-balanced portfolio mix of various products.
Speaker #2: Over the past four to five years, we have taken conscious decisions to spread our business across profitable lines, as well as not to be over-reliant on one line of business. This is to avoid any shocks that can come from a single line of business if there is an over-reliance on one.
Speaker #2: So if you look at it, none of the portfolios is more than 30%, and most of the three large portfolios are in their 20s. The others are 12%, 7%, and 9%.
Speaker #2: So it is a quite well-balanced portfolio, and we are working more to increase our business in the profitable lines of business. When we look at return on equity, it has also improved quite considerably, from 13% to around 16.5%, which is a significant improvement compared to last year.
سونيال كوخلي: When we look at the return on equity, it has also improved quite considerably from 13% to around 16.5%, which is a significant improvement compared to the last year. Another area I would like to highlight is the consistent dividend payout which we have been doing in last four to five years' time, where we have paid consistently good dividend to our shareholders. We intend to do the same by keeping our profitability and performance good enough so that we are able to give the rightful dividend to our shareholders. So that is the intention of the company. On the capital and solvency also, when you look at numbers, company has maintained solvency margin above the minimum regulatory requirement, and it has gradually increased. Which shows the confidence the shareholders have in us by putting capital to have adequate solvency, which is much above that required.
Sunil Kohli: When we look at the return on equity, it has also improved quite considerably from 13% to around 16.5%, which is a significant improvement compared to the last year. Another area I would like to highlight is the consistent dividend payout which we have been doing in last four to five years' time, where we have paid consistently good dividend to our shareholders. We intend to do the same by keeping our profitability and performance good enough so that we are able to give the rightful dividend to our shareholders. So that is the intention of the company. On the capital and solvency also, when you look at numbers, company has maintained solvency margin above the minimum regulatory requirement, and it has gradually increased. Which shows the confidence the shareholders have in us by putting capital to have adequate solvency, which is much above that required.
Speaker #2: Another area which I would like to highlight is the consistent dividend payout which we have been making over the last four to five years, during which we have paid consistently good dividends to our shareholders. We intend to do the same by keeping our profitability and performance strong enough so that we are able to give the rightful dividend to our shareholders.
Speaker #2: So that is the intention of the company. On the capital and solvency also, when you look at the numbers, the company has maintained a solvency margin above the minimum regulatory requirement, and it has gradually increased, which shows the confidence the shareholders have in us by putting in capital to have adequate solvency, which is much above that required. This gives us leverage to do more business without worrying about the impact on solvency.
سونيال كوخلي: Which gives us leverage to do more business without worrying about the impact on the solvent. When we look at the shareholders' equity, you will find that from 2021 to 2026 H1, shareholders' equity has increased from OMR 26.92 million to OMR 50.03 million. Which shows quite significant growth in the sale. Net asset per share also has grown very significantly, and which is also very positive for our organization. So considering our performance and consistent performance in various areas, we have been awarded various awards in the technology side, in the best-performing company, in the mid-small cap, as well as in the cybersecurity and digital innovation. So like that, we have got recognized from different organizations for good performance in different segments which cover our business operations.
Sunil Kohli: Which gives us leverage to do more business without worrying about the impact on the solvent. When we look at the shareholders' equity, you will find that from 2021 to 2026 H1, shareholders' equity has increased from OMR 26.92 to 50.03 million. Which shows quite significant growth in the sale. Net asset per share also has grown very significantly, and which is also very positive for our organization. So considering our performance and consistent performance in various areas, we have been awarded various awards in the technology side, in the best-performing company, in the mid-small cap, as well as in the cybersecurity and digital innovation. So like that, we have got recognized from different organizations for good performance in different segments which cover our business operations.
Speaker #2: When we look at the shareholders' equity, you will find that from 2021 to the first half of 2026, shareholders' equity has increased from 26.92 million Omani riyals to 50.03 million Omani riyals, which shows quite significant growth in the same.
Speaker #2: Net asset per share, VESA, has also grown very, very significantly, which is also very positive for our organization. Considering our consistent performance in various areas, we have been awarded various awards on the technology side, as the best performing company, in the small cap segment, as well as in cybersecurity and digital innovation. So, like that, we have been recognized by different organizations for good performance in different segments, which cover our business operations.
Speaker #2: We are really having great appreciation, and we express our deep gratitude to our leader, His Majesty Sultan Haitham bin Tarek, for his vision and guidance, which sustained the country's success, growth, and prosperity.
سونيال كوخلي: So we are really having great appreciation, and we express our deep gratitude to our leader, His Majesty Sultan Haitham bin Tariq, for his vision and guidance, which sustained the country's success, growth, and prosperity. We thank the Financial Services Authority and the Ministry of Commerce, Industry, and Investment Promotion for their continued guidance and support. We also would like to thank the customers, shareholders, reinsurers, and the employees for their continued trust and support. So we are really thankful to all our team members who have helped us to achieve good results and more so consistently good results with good fundamentals. With this, I thank all the members who have joined today for this presentation. We are open to any questions. Joyce, please go ahead.
Sunil Kohli: So we are really having great appreciation, and we express our deep gratitude to our leader, His Majesty Sultan Haitham bin Tariq, for his vision and guidance, which sustained the country's success, growth, and prosperity. We thank the Financial Services Authority and the Ministry of Commerce, Industry, and Investment Promotion for their continued guidance and support. We also would like to thank the customers, shareholders, reinsurers, and the employees for their continued trust and support. So we are really thankful to all our team members who have helped us to achieve good results and more so consistently good results with good fundamentals. With this, I thank all the members who have joined today for this presentation. We are open to any questions. Joyce, please go ahead.
Speaker #2: We thank the Financial Services Authority and the Ministry of Commerce, Industry, and Investment Promotion for their continued guidance and support. We also would like to thank the customers, shareholders, reinsurers, and the employees for their continued trust and support.
Speaker #2: So, we are really thankful to all our team members who have helped us to achieve good results, and more so, consistently good results with good fundamentals.
Speaker #2: So with this, I thank all the members who have joined today for this presentation. We are open to any questions. Joyce, please go ahead.
Speaker #1: Good afternoon, gentlemen. Thank you for the presentation.
[Analyst]: Good afternoon, gentlemen. Thank you for the presentation. Could you please provide some insights on the operations and the operational results of the company? Your growth rate on premium is down by almost 2%. Could you please tell us what are the reasons that led to this decline? Also on your claim ratios and your combined ratios, could you please touch upon those aspects as well?
[Analyst]: Good afternoon, gentlemen. Thank you for the presentation. Could you please provide some insights on the operations and the operational results of the company? Your growth rate on premium is down by almost 2%. Could you please tell us what are the reasons that led to this decline? Also on your claim ratios and your combined ratios, could you please touch upon those aspects as well?
Speaker #2: Could you please provide some insights on the operations and operational results of the company? For example, your gross return premium is down by almost 2%.
Speaker #2: Could you please tell us what the reasons are that led to this decline? And also, on your claim ratios and combined ratios, could you please touch upon those aspects as well?
Speaker #1: The decrease in business is mainly due to our focus on the profitable lines. We have found that in the motor line of business, over the last few years, pricing is under a lot of pressure and profitability is under stress.
سونيال كوخلي: See, the decrease in business is mainly due to our focus on the profitable lines. We have found that in the motor line of business, in the last few years, the pricing is under lot of pressure and the profitability is under stress. Due to that reason, we have done some correction in the pricing side plus underwriting controls. This has led to some reduction in the motor line of business, which has shown the degrowth for around 2% overall. The main significant reason is the motor business, where we are trying to be focusing more on the profitable areas rather than going for the top line. This is the reason for reduction. As far as the combined ratio is concerned, our combined ratio is 97.6%. As per the IFRS 17, it is not published, but we can show from our calculations, it is 97.6%. Okay.
Sunil Kohli: See, the decrease in business is mainly due to our focus on the profitable lines. We have found that in the motor line of business, in the last few years, the pricing is under lot of pressure and the profitability is under stress. Due to that reason, we have done some correction in the pricing side plus underwriting controls. This has led to some reduction in the motor line of business, which has shown the degrowth for around 2% overall. The main significant reason is the motor business, where we are trying to be focusing more on the profitable areas rather than going for the top line. This is the reason for reduction. As far as the combined ratio is concerned, our combined ratio is 97.6%. As per the IFRS 17, it is not published, but we can show from our calculations, it is 97.6%. Okay.
Speaker #1: So, due to that reason, we have made some corrections on the pricing side, plus underwriting controls, which has led to some reduction in the motor line of business.
Speaker #1: Which has shown a degrowth of around 2% overall. So, the main significant reason is the motor business, where we are trying to focus more on profitable areas rather than just going for the top line.
Speaker #1: This is the reason for the reduction. As far as the combined ratio is concerned, our combined ratio is 97.6%. As per IFRS 17, it is not published, but we can show from our calculations that it is 97.6%.
Speaker #2: Okay, thank you. You mentioned that 28% of your business is coming from life business. Is this credit life? Also, could you please tell us what is the new business premium that has been acquired during this year?
سونيال كوخلي: Thank you. You mentioned 28% of your business is coming from life business. Is it the credit life? Also could you please tell us what is the new business premium that has acquired during this year? Okay. See, the life business is both credit life, term life, as well as group life. But a significant portion of this is definitely credit life. But we do have good group life as well as term life business as well. But majority is the credit life business. The next other question was? The new business. Yes. So new business percentage. This will be the total. So this OMR 32 million. Annual. This is OMR 9 million. Yes. So new business is around OMR 9 million. What is your market share in the life business? Overall life. See, that we have to check if we have the details.
[Analyst]: Thank you. You mentioned 28% of your business is coming from life business. Is it the credit life? Also could you please tell us what is the new business premium that has acquired during this year?
Speaker #1: Okay. See, the life business includes both credit life, term life, as well as group life. But a significant portion of this is definitely credit life.
Sunil Kohli: Okay. See, the life business is both credit life, term life, as well as group life. But a significant portion of this is definitely credit life. But we do have good group life as well as term life business as well. But majority is the credit life business. The next other question was? The new business. Yes. So new business percentage. This will be the total. So this OMR 32 million. Annual. This is OMR 9 million. Yes. So new business is around OMR 9 million. What is your market share in the life business? Overall life. See, that we have to check if we have the details. Just give us a minute. No. Market share in life. It is only compared to the life portfolio.
Speaker #1: But we do have good group life as well as term life business as well. But the majority is the credit life business.
Speaker #2: And the next other question was about the new business.
Speaker #1: Yes.
Speaker #2: So new business percentage?
Speaker #1: Yeah.
Speaker #2: So this will be the total. So this thirty-two million.
Speaker #1: Yeah.
Speaker #2: Then what? This is 99 million.
Speaker #1: Yes.
Speaker #2: So, new business is around $9 million. And what's your market share in the live business overall?
Speaker #1: See, we have to check if we have the details. Just give us a minute. No, market share in life is only compared to the life portfolio.
سونيال كوخلي: Just give us a minute. No. Market share in life. It is only compared to the life portfolio. Okay. So in life, we have 25% market share. Okay. How do you see this life business going forward? What is your outlook, primarily on the claim ratio, the combined ratio, as well as on the general business outlook? I am asking this because. Please carry on. I am asking this because you mentioned that the motor portfolio is not profitable, but now probably life and health are doing better than other portfolios. So that is the reason why I am asking this. Yeah, sure. See, life business is a long-term business, which is generally spread over 10 years period. It goes from five to 10 years. Even more. So generally, we take it as a 10 years.
[Analyst]: Okay.
Speaker #1: So, in life, we have a 25% market share.
Sunil Kohli: So in life, we have 25% market share.
Speaker #2: Okay, and how do you see this life business going forward? What's your outlook—primarily on the claim ratio, the combined ratio, as well as on the general business outlook?
[Analyst]: Okay. How do you see this life business going forward? What is your outlook, primarily on the claim ratio, the combined ratio, as well as on the general business outlook? I am asking this because. Please carry on. I am asking this because you mentioned that the motor portfolio is not profitable, but now probably life and health are doing better than other portfolios. So that is the reason why I am asking this.
Speaker #2: I'm asking.
Speaker #1: Yeah, but life.
Speaker #2: Because.
Speaker #1: Yeah. Yeah, please carry on.
Speaker #2: You mentioned—yeah, I'm asking this because you mentioned that the motor portfolio is not profitable, but probably life and health are doing better than other portfolios.
Speaker #2: So that's the reason why I'm asking this.
Speaker #1: Yeah, sure. See, life business is a long-term business, which is generally spread over a 10-year period. It goes from 5 to 10 years, or even more, so generally we take it as 10 years. And as of now, I can tell you the combined ratio and loss ratio is quite good in life, but it is too early because, as you know, the single premium credit life has started only a couple of years back.
Sunil Kohli: Yeah, sure. See, life business is a long-term business, which is generally spread over 10 years period. It goes from five to 10 years. Even more. So generally, we take it as a 10 years. As of now, I can tell you the combined ratio and loss ratio is quite good in the life. It is too early because as you know that the single premium credit life has started only couple of years back, and that loss ratio is still under development.
سونيال كوخلي: As of now, I can tell you the combined ratio and loss ratio is quite good in the life. It is too early because as you know that the single premium credit life has started only couple of years back, and that loss ratio is still under development. It is only 2 years have passed with the various life policies to be issued. I think in next 2 to 3 years' time, we will now understand the trend of the loss ratio for the life business for the group, because at least by that time, 4 to 5 years results will be available for a long-term policy. As of today, I can say overall combined ratio and loss ratio is very good in the life business presently. So that is what I can tell you now.
Speaker #1: And that loss ratio is still under development. It is only two years since the various life policies were issued. I think in the next two to three years’ time, we will better understand the trend of the loss ratio for the life business for the group, because at least by that time, four to five years’ results will be available for a long-term policy.
Sunil Kohli: It is only 2 years have passed with the various life policies to be issued. I think in next 2 to 3 years' time, we will now understand the trend of the loss ratio for the life business for the group, because at least by that time, 4 to 5 years results will be available for a long-term policy. As of today, I can say overall combined ratio and loss ratio is very good in the life business presently. So that is what I can tell you now. In the general insurance business also, the loss ratio is good in the other lines of business other than motor. If you look at property insurance, engineering insurance, then in those lines also, loss ratio is quite good, and it is adding to the profitability of the organization.
Speaker #1: But as of today, I can say overall combined ratio and the loss ratio are very good in the life business presently. So that is what I can tell you now.
Speaker #1: In the general insurance business also, the loss ratio is good in the other lines of business, other than motor. If you look at property insurance, engineering insurance, then in those lines also, the loss ratio is quite good, and it is adding to the profitability of the organization.
سونيال كوخلي: In the general insurance business also, the loss ratio is good in the other lines of business other than motor. If you look at property insurance, engineering insurance, then in those lines also, loss ratio is quite good, and it is adding to the profitability of the organization. All right. Sir, just wanted to understand the dynamics of this. Thank you very much for this. Thank you, Ujwal. Thank you. In case no other question is there, we will thank all the participants for their time and listening patiently to us. We assure them that Dhofar Insurance is doing all which can be to the best interest of all the stakeholders. Thank you once again for your participation.
Speaker #2: All right. So, I just wanted to understand the dynamics of this. Thank you very much for this.
[Analyst]: All right. Sir, just wanted to understand the dynamics of this. Thank you very much for this.
Speaker #1: Thank you, Joyce. Thank you. Thank you. So, in case there are no other questions, we will thank all the participants for their time and for listening patiently to us. We assure them that Dhofar Insurance is doing all it can in the best interest of all the stakeholders.
Sunil Kohli: Thank you, Ujwal. Thank you.
Younis Salim Al Salti: In case no other question is there, we will thank all the participants for their time and listening patiently to us. We assure them that Dhofar Insurance is doing all which can be to the best interest of all the stakeholders. Thank you once again for your participation.
