• News
    OMAN UNITED INSURANCE

     Disclosure of preliminary summarized un-audited results for the nine months period ended 30th September 2015

    Oct 14, 2015 08:36 AM

    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 nine months period ended 30th September 2015, as following:

      Values in (RO)

    Particulars

     

    30th September 2015

     

    30th September  2014

     

    Change%

    Gross Written Premium

    31,472,345

    34,698,277

    -9.30

    Gross Underwriting Results

    4,351,049

    3,793,720

    14.69

    Investment and Other Income (Realized)

    3,010,087

    2,878,621

    4.57

    Unrealized   Investment profit / (loss)

    (1,248,509)

    431,837

    -389.12

    Net   Investment Income

    1,761,578

    3,310,458

    -46.79

    Management   Expenses

    (2,574,403)

    (2,352,937)

    9.41

     Profit for the period (before income tax)

    3,538,224

    4,751,241

    -25.53

    Provision   for income tax

    (379,000)

    (368,104)

    2.96

    Net Profit for the period (after   income tax)

    3,159,224

    4,383,137

    -27.92

    Other comprehensive (Loss) /Income  :

     

     

     

    Available for sale investments   fair value (loss) /gain

    (602,503)

    924,692

    -165.16

    Total comprehensive income for the   period

    2,556,721

    5,307,829

    -51.83

    Earnings per Share (EPS)

    0.032

    0.044

    -27.92

    Net Asset Value per share

    0.265

    0.277

    -4.33

     

    Notes:

    • Unrealized  investment losses include one-time impairment reserve of RO. 562,720/- for some AFS investments. 
    • The above results      are preliminary and subject to Statutory Auditor’s review and approval of both Audit Committee and Board of Directors.

    Nassir Bin Salim Al Busaidi

    Managing Director/ Spokes Person

    X
    X