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      OMAN UNITED INSURANCE

       Initial Un-audited Results for the year ended 31st December 2011.

      Jan 22, 2012 01:16 PM
      In compliance with Article (3) of Disclosure Rules issued by CMA, The Management of Oman United Insurance Company SAOG,  is pleased to disclose the preliminary summarized un-audited results for the year ended 31st December 2011, as following:
       
      Values in (RO)
       
      Particulars
       
       
      2011
      Un-Audited
       
      2010
       Audited
       
      Change%
      Gross Written Premium
      30,292,578
      20,993,809
      44
      Gross Underwriting Results
      3,307,195
      2,608,211
      27
      Net realized Investment Income
      2,258,136
      2,380,589
      -5
      Unrealized Investment Profit / (Loss)
      (1,235,258)
      971,843
      -227
      Total Investment Income
      1,022,878
      3,352,432
      -69
      Management Expenses (including Depreciation and Provision for Bad and doubtful Debts)
      (2,934,664)
      (3,013,855)
      -3
      Net Profit / (Losses) After Income Tax
      1,113,438
      2,790,787
      -60
      Earnings / (Losses) per Share EPS
      0.011
      0.028
      -60
      Retained Earnings after provisioning of Contingency Reserve
      811,637
      591,779
      37
      Net Asset Value per share
      0.198
      0.203
      -2
       
      Notes:
      • Comparatives for 2010, are extracts from the audited results
      • The above results are preliminary and subject to audit and  approval of Audit Committee, Board of Directors and shareholders in AGM.  Proposed AGM date is 24/03/2012.
       
      Nassir Bin Salim Al Busaidi
      Managing Director / Spokes Person
       
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