Dhofar insurance posted 27 percent net profit increase in 1H 2002
Oman’s Dhofar Insurance recorded a 27.4 percent increase in net profits in the first half of 2002, reaching 2.9 million Omani rials. Gross premiums increased by 39.2 percent to OR 19.8 million and underwriting results improved by 13.4 percent to OR 3.25 million. Returns from investments increased by 91 percent.
Dhofar Insurance is the only local insurance company listed on the Muscat Securities Market. The company recorded a net profit increase of over 11 percent for the first quarter of 2002. Earnings per share reached OR .26 and total assets rose to OR 21.5 million compared with OR 18.7 million in the corresponding period of the previous year. — (menareport.com)
© 2002 Mena Report (www.menareport.com)