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    OMAN UNITED INSURANCE

      Preliminary summarized un-audited results for the three months period ended 31st March 2018

    Apr 15, 2018 02:51 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 2018, as following:

     

               Values in (RO)

    Particulars

     

    31st  March 2018

     

    31st   March  2017

     

    Change%

    Gross Written Premium

    12,621,374

    12,865,000

    -1.9

    Gross Underwriting Results

    2,582,398

    2,236,004

    +15.5

    Investment and Other Income (Realized)

    1,308,445

    1,348,483

    -3.0

    Unrealized Investment (loss)

    (664,692)

    (181,742)

    +265.7

    Net Investment Income

    643,753

    1,166,741

    -44.8

    Management Expenses

    (1,201,671)

    (1,111,458)

    +8.1

     Profit for the period (before income tax)

    2,024,480

    2,291,287

    -11.6

    Provision for income tax

    (319,979)

    (279,443)

    +14.5

    Net Profit for the period (after income tax)

    1,704,501

    2,011,844

    -15.3

    Other comprehensive (Loss)Income  :

     

     

     

    Available for sale investments fair value (loss) /gain

    (180,803)

    (684,589)

    -73.6

    Total comprehensive income for the period

    1,523,698

    1,327,255

    +14.8

    Earnings per Share (EPS)

    0.017

    0.020

    -15.3

    Net Asset Value per share

    0.276

    0.273

    +1.1

     

    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

    Spokes Person

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