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      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

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