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Oman Insurance profits increase to Dh166 million
DUBAI — Oman Insurance Company PSC has achieved a net profit of Dh166 million for the half year ended on June 30, 2007. The technical profits for the half year stands at Dh76 million as against Dh56 million for the previous year showing an increase of 36 per cent.
The total assets of the company stand at Dh3.78 billion for the current half year compared to Dh3.30 billion at the end of financial year 2006. Shareholders equity stands at Dh1.57 billion for the half year 2007 as against Dh1.42 billion as at the end of 2006.
Oman Insurance Company has been recently upgraded to A- by Standard & Poors.
Matar Humaid Al Tayer, chairman of the board of directors, expressed satisfaction in the overall performance of the company and attributed the consistent growth and upgrading to A- to the strong financial stability and strength of the company.
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