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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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