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GIG Gulf wins CMA nod to provide E-insurance in Oman

GIG Gulf, one of the largest insurance providers in the MENA region including the Sultanate of Oman, has announced that it has received approval from the Capital Markets Authority (CMA) to provide digitally integrated insurance services for its customers online. This development positions GIG Gulf as one of first two insurers authorized to offer online insurance solutions in Oman.

The approval follows a comprehensive report submission in January 2024, showcasing GIG Gulf’s sophisticated digital insurance platforms and its commitment to adhering to the highest regulatory standards.

Commenting on the approval, Paul Adamson, CEO of GIG Gulf, said: “We are proud to have been granted approval by the Capital Markets Authority in Oman to offer our insurance services online. This authorization is not just a regulatory milestone, it’s a significant leap towards fulfilling our promise of providing unparalleled convenience and flexibility to our customers in Oman. As we strengthen our online presence, we remain committed to our omnichannel strategy, ensuring our customers have the freedom to engage with us through their preferred channels. Our focus remains steadfast on enhancing the digital insurance buying and servicing experience, reinforcing our position as a leading insurer in the region.”

Mehdi Salim Said al Harthy, General Manager of GIG Gulf Oman, commented: “Receiving the CMA’s approval to operate our digital insurance services in Oman is a landmark achievement for us at GIG Gulf. It reflects our deep commitment to offering innovative, accessible, and customer-focused insurance solutions. This approval not only sets us apart in the Omani market but also reinforces our pledge to be at the forefront of the digital transformation in the insurance industry. We are excited to leverage this opportunity to further enhance our service offerings and continue to meet the evolving needs of our customers in Oman with agility and excellence.”