GIG Insurance Oman (GIG Gulf) vs Liva Insurance (Oman)

All-risk construction cover backed by in-house engineers

The Oman arm of GIG Gulf (Gulf Insurance Group, majority Fairfax-owned; the former AXA Gulf operation), present across Oman, UAE, Bahrain and Qatar. It runs a dedicated engineering line — CAR (from small villas to bridges/high-rises), EAR, contractor plant & machinery, machinery breakdown, electronic equipment — with an in-house engineering team for risk management.

Pros

• + Full engineering suite + in-house engineers
• + Project-by-project or annual multi-project CAR
• + Fairfax/GIG regional capital for large risks; dedicated public product page

Cons

• − Quote-only pricing
• − Large-project cover broker-mediated
• − No standalone Oman AM Best rating surfaced

Regional GCC insurer writing CAR & contractor plant cover

⚠ AM Best revised the outlook to NEGATIVE (Sept 2024, maintained through 2026) on weak underwriting performance — the A- rating level is still strong, but the trend is being watched.

The Oman entity of Liva Group (formed by the NLGIC + Al Ahlia + RSA Middle East merger) — the largest multi-line insurer in the region and the consolidation story of the Omani market. AM Best A- (Excellent), affirmed Feb 2026 but with a negative outlook. Lists Contractors All Risk, contractor plant & machinery and workmen’s compensation.

Pros

• + Highest credit rating here (AM Best A-)
• + Confirmed CAR + CPM + workmen’s comp
• + Regional scale and reinsurance capacity; market leader by size

Cons

• − AM Best NEGATIVE outlook (underwriting/motor + 2024 GCC flood losses)
• − No dedicated public CAR page; EAR not listed online
• − Quote-based, broker-mediated