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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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