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      OMAN UNITED INSURANCE

       Preliminary summarized un-audited results for the six months period ended 30th June 2017

      Jul 13, 2017 03:45 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 six months period ended 30thJune 2017, as following:

       

                 Values in (RO)

      Particulars

       

      30th June 2017

       

      30th June  2016

       

      Change%

      Gross Written Premium

      21,468,966

      22,469,309

      -4.5

      Gross Underwriting Results

      3,912,768

      3,203,406

      +22.1

      Investment and Other Income (Realized)

      1,978,459

      2,011,366

      -1.6

      Unrealized Investment (loss)/ income

      (1,022,234)

      584,414

      -274.9

      Net Investment Income

      956,225

      2,595,780

      -63.2

      Management Expenses

      (2,146,801)

      (1,935,578)

      +10.9

       Profit for the period (before income tax)

      2,722,192

      3,863,608

      -29.5

      Provision for income tax

      (449,212)

      (348,129)

      +29.0

      Net Profit for the period (after income tax)

      2,272,980

      3,515,479

      -35.3

      Other comprehensive (Loss)Income  :

       

       

       

      Available for sale investments fair value (loss) /gain

      (1,348,168)

      (596,417)

      +126.0

      Total comprehensive income for the period

      924,812

      2,919,062

      -68.3

      Earnings per Share (EPS)

      0.023

      0.035

      -35.3

      Net Asset Value per share

      0.269

      0.271

      -0.7

       

      Note:

      • The above results are preliminary and subject to the review  of the Statutory Auditors and the approval of Audit Committee and Board of Directors.

      Nassir Bin Salim Al Busaidi

      Managing Director/ Spokes Person

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