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      OMAN UNITED INSURANCE

       Preliminary summarized un-audited results for the three months period ended 31st March 2017

      Apr 13, 2017 01:17 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 three months period ended 31st March 2017, as following:

       

                 Values in (RO)

      Particulars

       

      31st  March 2017

       

      31st   March  2016

       

      Change%

      Gross Written Premium

      12,865,000

      12,176,680

      +5.7

      Gross Underwriting Results

      2,236,004

      1,877,851

      +19.1

      Investment and Other Income (Realized)

      1,348,483

      1,303,061

      +3.5

      Unrealized Investment (loss)/ income

      (181,742)

      315,344

      -157.6

      Net Investment Income

      1,166,741

      1,618,405

      -27.9

      Management Expenses

      (1,111,458)

      (937,224)

      +18.6

       Profit for the period (before income tax)

      2,291,287

      2,559,032

      -10.5

      Provision for income tax

      (279,443)

      (228,796)

      +22.1

      Net Profit for the period (after income tax)

      2,011,844

      2,330,236

      -13.7

      Other comprehensive (Loss)Income  :

       

       

       

      Available for sale investments fair value (loss) /gain

      (684,589)

      (360,189)

      +90.1

      Total comprehensive income for the period

      1,327,255

      1,970,047

      -32.6

      Earnings per Share (EPS)

      0.020

      0.023

      -13.7

      Net Asset Value per share

      0.273

      0.261

      +4.6

        
      Note:

      • The above results are preliminary and subject to Statutory Auditor’s review and approval of both of Audit Committee and Board of Directors.


      Nassir Bin Salim Al Busaidi
      Managing Director/ Spokes Person

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