Muscat-Mubasher: Oman United Insurance Company (OUIC) posted a profit of OMR 1.053 million in the first quarter ended 31 March 2015, compared to QAR 1.721 million in Q1-14, recording a decline of 38.8%, according to a filing to Muscat Securities Market.

OUIC reported a 28.9% decline in 2014 profit to OMR 3.57 million, compared to OMR 5.02 million in 2013.

The company’s capital amounts to OMR 10 million, distributed on 100 million shares.