GulfBase Live Support
Oman Insurance Company held its Annual General Assembly meeting yesterday which was presided over by H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of the Board of Directors. The Board approved the proposal to distribute cash dividends for 2017 at the rate of 10% of the nominal value of the share.
The Chairman announced that the company achieved its highest ever gross written premiums reaching AED 3.72 billion against AED 3.56 billion in 2016. The company, listed on Dubai Financial Market stock exchange, increased its net profit by 32% to reach AED 104,485 million in 2017 against AED 79.89 million in 2016. The total assets of the Company increased to AED 7.4 billion.
The members of the Board of Directors were happy with the performance of the Company during 2017 considering the challenging year faced by both the global economy and local insurance industry. Oman Insurance witnessed successes towards its four strategic pillars to constantly outperform, lead through service, move boundaries and empower customers. Commenting on the results, Christos Adamantiadis, Chief Executive Officer of Oman Insurance Company said “2017 saw us take great strides in digital transformations with the launch of our eCommerce platform, several online portals to support our service delivery and surveys to gain immediate customer feedback. We bolstered our strong underwriting practice with actuarial insights, and strengthened our staff expertise by creating the right learning and development programs for our employees. We are excited about our business plans rolling out in 2018 as many of our new initiatives, like our award winning corporate wellness program LivFit, continue to gain traction and strengthen our leading position in this market.”
Oman Insurance Company (OIC) has formulated a three-year strategy aimed at boosting profitability and growing premiums at a compound annual growth rate (CAGR) of 11 per cent despite fierce competitio
Oman Insurance Company (OIC), the biggest insurer in the UAE, is forecasting its profit this year to be slightly less than last year because of lower investment income, which is being hit by a slowin
Oman Insurance Company (OIC) announces the appointment of Christos Adamantiadis as Chief Executive Office to replace Patrick Choffel who ends his successful four years tenure with the UAE’s leading
Switzerland’s Clariant and new anchor shareholder Saudi Basic Industries Corp. (SABIC) will merge their high-performance materials businesses and install a SABIC manager as head of the group as they
Reinforcing its position as one of Oman's most innovative Islamic banking institutions, Alizz Islamic Bank signed a Memorandum of Understanding (MoU) with Takaful Oman, the Sultanate’s first full-fle
Times of Oman
Dubai-based telecom operator du has announced a new partnership with the Abu Dhabi Global Market (ADGM) to facilitate its digital transformation agenda.
The MoU sets a formal framework for
Barwa Real Estate Group, one of the leading real estate and investment companies in Qatar and the region, participated in the Qatar-Russia 2018 Year of Culture, where a seminar entitled “Qatar: No Li
Saudi Aramco, a world leader in integrated energy and chemicals, said one of its units, Saudi Arabian Drilling Academy (Sada) held its first graduation for a cohort of 132 students representing 34 dr