Dhofar Insurance Company and Abu Dhabi-based Munich Health Daman Holding have signed a memorandum of understanding (MoU), to form a joint venture (JV) company specializing in health insurance in Oman.

A filing of Dhofar Insurance in the Muscat Securities Market (MSM) was cited by the Muscat Daily as saying, "The MoU was signed on February 12 between Dhofar Insurance Co and Munich Health Daman Holding for the establishment of a partnership company specialized in health insurance in the sultanate."

Munich Health Daman Holding was established as a JV between the Government of Abu Dhabi and Munich Reinsurance Company (Munich Re).

Munich Re has a 51% shareholding in Munich Health Daman Holding.