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      OMAN UNITED INSURANCE

       Preliminary summarized un-audited results for the nine months period ended 30th September 2016

      Oct 11, 2016 03:02 PM
      In compliance with Article (280) of the executive regulation of CML in respect 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 nine months period ended 30th September 2016, as following:

       

                 Values in (RO)

      Particulars

       

      30th September 2016

       

      30th September 2015

       

      Change%

      Gross Written Premium

      31,597,330

      31,472,345

      0.4

      Gross Underwriting Results

      4,473,035

      4,351,049

      2.8

      Investment and Other Income (Realized)

      3,233,660

      3,010,087

      7.4

      Unrealized Investment (loss)/ income

      (18,859)

      (1,248,509)

      98.5

      Net Investment Income

      3,214,801

      1,761,578

      82.5

      Management Expenses

      (2,933,256)

      (2,574,403)

      13.9

       Profit for the period (before income tax)

      4,754,580

      3,538,224

      34.4

      Provision for income tax

      (466,322)

      (379,000)

      23.0

      Net Profit for the period (after income tax)

      4,288,258

      3,159,224

      35.7

      Other comprehensive Income  :

       

       

       

      Available for sale investments fair value (loss) /gain

      (593,245)

      (602,503)

      -1.5

      Total comprehensive income for the period

      3,695,013

      2,556,721

      44.5

      Earnings per Share (EPS)

      0.043

      0.032

      35.7

      Net Asset Value per share

      0.278

      0.265

      5.1

       

      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

      Spokes Person

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