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    OMAN UNITED INSURANCE

     Initial Un-audited financials for the 3rd quarter 2017

    Oct 12, 2017 04:05 PM

    In compliance with Article (280) of the executive regulation of Capital Market Law in respect 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 nine months period ended 30th September 2017, as following:

     

               Values in (RO)

    Particulars

     

    30th September 2017

     

    30th September 2016

     

    Change%

    Gross Written Premium

    30,946,959

    31,597,330

    -2.1

    Gross Underwriting Results

    5,130,424

    4,473,035

    +14.7

    Investment and Other Income (Realized)

    2,538,535

    3,233,660

    -21.5

    Unrealized Investment (loss)

    (695,553)

    (18,859)

    +3.6

    Net Investment Income

    1,842,982

    3,214,801

    -42.7

    Management Expenses

    (3,208,582)

    (2,933,256)

    +9.4

     Profit for the period (before income tax)

    3,764,824

    4,754,580

    -20.8

    Provision for income tax

    (551,468)

    (466,322)

    +18.3

    Net Profit for the period (after income tax)

    3,213,356

    4,288,258

    -25.1

    Other comprehensive Income  :

     

     

     

    Available for sale investments fair value (loss)

    (1,247,305)

    (593,245)

    +110.3

    Total comprehensive income for the period

    1,966,051

    3,695,013

    -46.8

    Earnings per Share (EPS)

    0.032

    0.043

    -25.1

    Net Asset Value per share

    0.279

    0.278

    0.03+

     

    Note:

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

     

    Nassir Bin Salim Al Busaidi

    Spokes Person

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