Mubasher: Standard & Poor's (S&P) affirmed on 19 October its “BBB” financial strength and counterparty credit ratings on Oman United Insurance Co. (OUIC), with a “Stable” outlook, according to a statement.

Last February, the ratings agency also reiterated its “BBB” credit ratings on the Muscat-listed firm.

The company earlier posted a 35.7% rise in its profits to reach OMR 4.3 million in the first nine months of 2016, compared to OMR 3.16 million in the prior-year period.