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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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