The net profit for the half-year ended is Dhs142m as compared to Dhs358m for the previous year.
"The company's strategy focuses on the technical business, to develop the Insurance portfolio that allows the company to improve its underwriting standards whilst maintaining its leading position. Technical profits have contributed in supporting the overall net profit and covered the decline in the investment income caused by the global economic crisis,"said H.E. Matar Humaid Al Tayer, Chairman of Oman Insurance Company (PSC).
The gross written premium for the half year ended 30th June 2009 is Dhs1.36bn as against the previous year of Dhs1.17bn. The company's assets stand at Dhs5.27bn as on 30th June 2009 as against Dhs4.95bn as at the year-end 2008.
Adding to this Mr. Abdul Muttalib Mustafa al Jaidi, Chief Executive Officer, Oman Insurance Company (PSC) said, "The results achieved reinforce the Company's position as the undisputed leader in the UAE Insurance market. This will allow us to continue to achieve higher customer confidence and satisfaction whilst ensuring further growth both locally and regionally in 2009."
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