Oman United Insurance
| Name | Oman United Insurance | |
| Sector | Finance & Insurance - Insurance and reinsurance companies | |
| Trading | MSM | |
| RIC Code | OUIC.OM | |
| Location | OMAN |
Profile and Background
Oman United Insurance Company was created after a merger between Oman United Holding Company's subsidiaries: Oman United Insurance Company, Oman United Medical Insurance and Oman United Life Insurance.
Oman United Holding Company (OUHC) started off in 1985 as Oman United Insurance Company (OUIC), beginning full operations in 1986. In 1997 and 1998, it was restructured into a holding company with four subsidiaries: Oman United Insurance Company (general insurance), Oman United Medical & Life Insurance Company, Oman United Financial Management Services Company (OUFMS) and Oman United Automobile Services Company.
The creation of the auto repair division was seen as an attempt to maximize the returns of OUIC's motor insurance business, which was barely breaking even owing to the low cost of premiums. OUFMS undertakes investment activities on behalf of the group and may offer services to other clients in the future.
In its first decade of operations, OUIC saw gross premiums increase by an average of 41 per cent a year, but since then, like other insurers in the sultanate, it has felt the pressure of competition. In 1997, underwriting results fell by 34 per cent, and in 1998, the company posted an underwriting loss of RO 422,327 ($1.
1 million) due to a sharp rise in claims paid. The company was also hit hard by the slump in the MSM in 1998. A provision of RO 3.1 million ($8 million) was made for the decline in the value of investments, contributing to a net loss for the year of RO 859,844 ($2.
2 million). The company reported a reduced loss in 1999, principally because of the need to make provisions for investments. The loss is being held over on the profit and loss statement. The price of the company's shares continued to fall significantly in 2000 and were quoted at RO 0.
38 ($0.99). The price of shares at that time were barely more than 50 per cent of the company's book value.OUHC has major equity participations in a number of companies, including Oman & Emirates Investment Holding Company.
Oman United Holding Company (OUHC) started off in 1985 as Oman United Insurance Company (OUIC), beginning full operations in 1986. In 1997 and 1998, it was restructured into a holding company with four subsidiaries: Oman United Insurance Company (general insurance), Oman United Medical & Life Insurance Company, Oman United Financial Management Services Company (OUFMS) and Oman United Automobile Services Company.
The creation of the auto repair division was seen as an attempt to maximize the returns of OUIC's motor insurance business, which was barely breaking even owing to the low cost of premiums. OUFMS undertakes investment activities on behalf of the group and may offer services to other clients in the future.
In its first decade of operations, OUIC saw gross premiums increase by an average of 41 per cent a year, but since then, like other insurers in the sultanate, it has felt the pressure of competition. In 1997, underwriting results fell by 34 per cent, and in 1998, the company posted an underwriting loss of RO 422,327 ($1.
1 million) due to a sharp rise in claims paid. The company was also hit hard by the slump in the MSM in 1998. A provision of RO 3.1 million ($8 million) was made for the decline in the value of investments, contributing to a net loss for the year of RO 859,844 ($2.
2 million). The company reported a reduced loss in 1999, principally because of the need to make provisions for investments. The loss is being held over on the profit and loss statement. The price of the company's shares continued to fall significantly in 2000 and were quoted at RO 0.
38 ($0.99). The price of shares at that time were barely more than 50 per cent of the company's book value.OUHC has major equity participations in a number of companies, including Oman & Emirates Investment Holding Company.
Shareholding Groups
| Individuals | N/A |
| Institutions | N/A |
| Floating | N/A |
| Government | N/A |
Stock Performance
Market Information
| Stock | Oman Index | |
| Last Closing | RO 0.258 | 1832.4 |
| YTD % |  7.887% |  0% |
| Weekly % | 10.728% | 6.57% |
| Year High | RO 0.34 | 1909.5 |
| Year Low | RO 0.2 | 1555 |
| 52 Week High | RO 0.44 | 2951.18 |
| 52 Week Low | RO 0.26 | 1734.99 |
| BETA | 7.9314 | |
| Outstanding Shares | 100,000,000 | |
| Market Cap | RO 25,800,000 | |
| Market Cap in $ | USD $67,012,987 | |
| % of Oman Market | 0.54% | |
| % of Sector | 1.08% | |
| Rank by Cap | 27 |
Key Figures in '000 RO
| 2004 | 2003 | 2002 | |
| Total Assets | 23,720 | 20,989 | 20,721 |
| Shareholder's Equity | 8,639 | 7,316 | 6,929 |
| NIAT | 2,085 | 2,195 | 1,537 |
| Dividends | 600 | 450 | N/A |
Financial Ratios
| 2004 | 2003 | 2002 | |
| Assets Growth | 13.01% | 1.30% | 58.86% |
| Earning Growth | -5.00% | 42.80% | 231.13% |
| ROaA | 9.33% | 10.53% | 9.11% |
| ROaE | 26.14% | 30.82% | 27.35% |
| No. Of Shares | 5,999,971 | 4,500,000 | 4,500,000 |
| EPS | 0.35 | 0.49 | 0.34 |
| EPS Growth | -5.00% | 42.80% | 231.13% |
| Payout Ratio | 28.774 | 20.502 | N/A |
Valuation Ratios
| Trailing | |
| PE | |
| PB | |
| DVPS | |
| Div Yield | |
| EV | |
| EV/Equity |
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