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      OMAN UNITED INSURANCE

       Initial Un-audited Results for the year ended 31st December 2016.

      Jan 12, 2017 08:46 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 year ended 31st December 2016, as following:

      Values in (RO)

       

      Particulars

       

       

      2016

      Un-Audited

       

      2015

      Audited

       

      Change%

      Gross Written Premium

      38,545,294

      38,710,985

      -0.4

      Gross Underwriting Results

      5,059,097

      5,511,943

      -8.2

      Total Investment Income & other income

      3,832,374

      2,041,862

      +87.7

      Management Expenses (including Depreciation and Provision for Bad and doubtful Debts)

      (4,181,751)

      (3,801,314)

      +10.0

      Provision for Income Tax

      (346,170)

      (441,886)

      -21.7

      Net Profit After Income Tax

      4,363,550

      3,310,605

      +31.8

      Earnings per Share EPS

      0.044

      0.033

      +33.3

      Available for sale investments fair value gain / (Losses)

      (191,056)

      (693,848)

      -72.5

      Total Comprehensive income for the period

      4,172,494

      2,616,757

      +59.5

      Retained Earnings after provisioning of Contingency Reserve

      4,071,411

      2,534,544

      +60.6

      Net Asset Value per share

      0.283

      0.266

      +6.4

       

      Notes:

      • Comparative figures of 2015 are extracted from the audited financials of the year 2015.
      • The above results are preliminary and subject to audit, approval of Audit Committee, Board of Directors and shareholders at AGM scheduled on 28/03/2017.

      Nassir Bin Salim Al Busaidi

      Managing Director / Spokes Person

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