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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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