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      OMAN UNITED INSURANCE

       OMAN UNITED INSURANCE COMPANY SAOG BAGS “OMAN INSURER OF THE YEAR 2013” AWARD

      Jan 28, 2013 09:19 AM
      Oman United Insurance Company was voted the “Oman Insurer of the year - 2013”. This award was conferred by MENAIR Insurance Review, London at a function organized in Dubai. The winner is selected on the basis of achieving a leading position in the country, strong business model, wide network, effective marketing strategy, top quality product offerings setting it apart from its competitors. The key criteria used for evaluation are ‐ Growth, market share, Brand, Range of products, Corporate governance, leadership etc.. This award to Oman United Insurance as the best insurer of the Sultanate is a testimony to the Company’s sterling track record of consistent growth and profits despite the tough market conditions. 
       
      The performance figures of OUIC speak for themselves. The premium turnover has risen over 80% in the period 2009 to 2012 from 20 mln RO  to 36 mln RO (unaudited) 2012. Significantly, the growth has yielded consistent profits. In 2011 the company posted a net profit of 1.1 mln which has risen 2.6 mln RO (unaudited).
       
      During this period the share prices of OUIC has witnessed a historic high. Also, sometime back even Standard and Poor has revised its outlook for OUIC from Stable to ‘Positive’. Incidentally OUIC is the only Omani company to have been rated by Standard and Poor.
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