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    OMAN UNITED INSURANCE

     Initial Un-audited results 1st quarter 2015

    Apr 14, 2015 04:08 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 three months period ended 31st  March 2015, as following:

     

               Values in (RO)

    Particulars

     

    31st  March 2015

     

    31st   March    2014

     

    Change%

    Gross   Written Premium

    12,306,363

    12,146,865

    +1.3

    Gross   Underwriting Results

    1,523,206

    1,679,561

    -9.3

    Investment   and Other Income (Realized)

    1,048,013

    1,191,241

    -12.0

    Unrealized Investment (loss)/   income

    (504,675)

    (152,199)

    +231.6

    Net Investment Income

    543,338

    1,039,042

    -47.7

    Management Expenses

    (868,413)

    (815,451)

    +6.5

     Profit for the period (before income tax)

    1,198,131

    1,903,152

    -37.0

    Provision for income tax

    (144,306)

    (182,000)

    -20.7

    Net   Profit for the period (after income tax)

    1,053,825

    1,721,152

    -38.8

    Other   comprehensive (Loss)Income  :

     

     

     

    Available   for sale investments fair value (loss) /gain

    (165,273)

    401,907

    -141.1

    Total   comprehensive income for the period

    888,552

    2,123,059

    -58.1

    Earnings   per Share (EPS)

    0.011

    0.017

    -35.3

    Net   Asset Value per share

    0.248

    0.245

    +1.2

     

    Note:

    • The above results are preliminary and subject to Statutory Auditor’s review and approval of both of Audit Committee and Board of Directors.

     

    Nassir Bin Salim Al Busaidi

    Managing Director/ Spokes Person

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