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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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