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Article: GULF STATES: OMAN INSURANCE POSTS 90% NET PROFIT GROWTH.(Abu Dhabi Commercial Bank (Abu Dhabi) loans Sharjah International Airport expansion planning)(Brief Article)
- Article from:
- IPR Strategic Business Information Database
- Article date:
- January 12, 2005
CopyrightCOPYRIGHT 2005 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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According to Al-Bayan newspaper (January 11, 2005), the Oman Insurance Company (OIC) posted a net profit of Dh 203 million for the year 2004, compared with Dh 107 million in the previous year. The company's revenues had jumped by 41% to Dh 529 million in 2004 while assets jumped to Dh 1.7 billion. The operating profits and investment income rose by 57% and 257%, respectively. Oman Insurance Company (PSC), which was established by an Amiri Decree issued by His Highness the Ruler of Dubai, is a public shareholding company and is registered under the Federal Law No. 8 of 1984 (as amended) relating to commercial companies in the UAE. It is engaged in general insurance and ...