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    OMAN UNITED INSURANCE

     Most important decisions of Board of Directors

    Feb 20, 2017 07:10 PM

    Dear honorable shareholders and investors community,

    We would like to announce that the Board of Oman United Insurance Company SAOG  held its  meeting on (Monday 20th  February 2017) and approved the audited  financial statements of the company  for the year ended 31/12/2016. Hereinafter the most important Board decisions:

    The following table illustrates the performance of the year 2016.

    Values in (RO)

     

    Particulars

     

    2016

     

    2015

     

     

    Change%

    Gross Written Premium

    38,545,295

    38,710,985

    -0.43

    Gross Underwriting Results

    5,726,981

    5,511,943

    +3.9

    Total Investment Income & other income

    2,886,865

    2,041,861

    +41.4

    Management Expenses (including Depreciation and Provision for doubtful Debts)

    (4,166,250)

    (3,801,314)

    +9.6

    Operating  Profit before Tax

    4,447,596

    3,752,490

    +18.5

    Provision for Income Tax

    (394,403)

    (441,886)

    -10.8

    Profit for the year

    4,053,193

    3,310,604

    +22.4

    Net change in fair value of available-for-sale investments

    754,453

    (693,848)

    +208.7

    Total comprehensive income for the year

    4,807,646

    2,616,756

    +83.7

    Earnings per share (EPS)

    0.041

    0.033

    +22.4

    Net asset value per share

    0.290

    0.266

    +9.0

     

    Cash Dividend Distribution

    The Board recommends to distribute cash dividends of 30% of the paid up capital of RO. 10 Million i.e. (30 Bzs.) per share. The recommendation would be put forward to the AGM of the company scheduled on 28/3/2017, for approval.

     

     

    Spokesperson

    Nassir Bin Salim Al Busaidi

     

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