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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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