OUIC
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 nine months period ended 30th September 2015, as following:
Values in (RO)
| Particulars |
30th September 2015 |
30th September 2014 |
Change% |
| Gross Written Premium |
31,472,345 |
34,698,277 |
-9.30 |
| Gross Underwriting Results |
4,351,049 |
3,793,720 |
14.69 |
| Investment and Other Income (Realized) |
3,010,087 |
2,878,621 |
4.57 |
| Unrealized Investment profit / (loss) |
(1,248,509) |
431,837 |
-389.12 |
| Net Investment Income |
1,761,578 |
3,310,458 |
-46.79 |
| Management Expenses |
(2,574,403) |
(2,352,937) |
9.41 |
| Profit for the period (before income tax) |
3,538,224 |
4,751,241 |
-25.53 |
| Provision for income tax |
(379,000) |
(368,104) |
2.96 |
| Net Profit for the period (after income tax) |
3,159,224 |
4,383,137 |
-27.92 |
| Other comprehensive (Loss) /Income : |
|
|
|
| Available for sale investments fair value (loss) /gain |
(602,503) |
924,692 |
-165.16 |
| Total comprehensive income for the period |
2,556,721 |
5,307,829 |
-51.83 |
| Earnings per Share (EPS) |
0.032 |
0.044 |
-27.92 |
| Net Asset Value per share |
0.265 |
0.277 |
-4.33 |
Notes:
- Unrealized investment losses include one-time impairment reserve of RO. 562,720/- for some AFS investments.
- The above results are preliminary and subject to Statutory Auditor’s review and approval of both Audit Committee and Board of Directors.
Nassir Bin Salim Al Busaidi
Managing Director/ Spokes Person
