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    OMAN UNITED INSURANCE

     Preliminary summarized un-audited results for the six months period ended 30th June 2016

    Jul 13, 2016 03:25 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 six months period ended 30th June 2016, as following:

     

               Values in (RO)

    Particulars

     

    30th June 2016

     

    30th June  2015

     

    Change%

    Gross Written Premium

    22,469,309

    22,400,955

    +0.31

    Gross Underwriting Results

    3,203,406

    2,960,965

    +8.19

    Investment and Other Income (Realized)

    2,011,366

    2,377,692

    -15.41

    Unrealized Investment (loss)/ income

    584,414

    (176,854)

    +430.45

    Net Investment Income

    2,595,780

    2,200,838

    +17.95

    Management Expenses

    (1,935,578)

    (1,700,032)

    +13.86

     Profit for the period (before income tax)

    3,863,608

    3,461,771

    +11.61

    Provision for income tax

    (348,129)

    (267,914)

    +29.94

    Net Profit for the period (after income tax)

    3,515,479

    3,193,857

    +10.07

    Other comprehensive (Loss)Income  :

     

     

     

    Available for sale investments fair value (loss) /gain

    (596,417)

    (615,872)

    -3.16

    Total comprehensive income for the period

    2,919,062

    2,577,985

    +13.23

    Earnings per Share (EPS)

    0.035

    0.032

    +9.38

    Net Asset Value per share

    0.271

    0.265

    +2.26

     

    Note:

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

     

    Nassir Bin Salim Al Busaidi

    Managing Director/ Spokes Person

     

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