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Decisions of Board meeting held on 23rd February 2010
Feb 23, 2010    

In its meeting held on 23rd February 2010, the Board of Directors of M/s Oman United Insurance Company SAOG has taken the following decisions:

1. The Board approved the Audited Balance Sheet and  Financial Statements for the year ended  31 December 2009. The net profit after tax  amounted to   RO. 3,793,745

2.The Board proposed to distribute cash dividends of 12.5 Bz per share (12.5%, of the face value of share that amounting to 100 Bz), for the year ended 31 December 2009.

Note: The above decisions and recommendations are subject to the approval of Capital Market Authority and the Shareholders’ approval at the Annual General Meetings scheduled for 27th   March 2010.

3.The Board decided to appoint Sayyid Nassir Bin Salim Al Busaidi in the post of Managing Director with effect from 1 March 2010.

4. The Board decided to recruit Mr. Ravi Shankar in the post of chief Executive Officer with effect from 1 March 2010. Mr. Ravi holds of the Fellowship of Insurance Institute of India and has more than 27 years experience in insurance industry, out of them, he worked about 10 years in the local insurance market.  

 

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