Dhofar Insurance posts 14 per cent growth in profit after tax

MUSCAT: Dhofar Insurance Company announced a 14 per cent growth (unaudited) in its profits for the nine months ended September 30, 2019 .
Sunil Kohli (pictured), CEO commented that the total premium for the period ended September 30, 2019 was RO 36.12 million which represents 9 per cent growth over previous year premium of RO 32.99 million in the same period last year. He added that the net underwriting result was a profit of RO 5.68 million compared to a profit of RO 6.45 million over the same period last year.
Kohli added that the company had a 9.3 per cent market share based on the GWP for the period ended September 30, 2019 ranking it the second largest insurer in the Sultanate of Oman.
Kohli said that the performance was heartening especially after a challenging two years that the Company went through. He expressed his deep gratitude and appreciation to the shareholders who reposed their confidence in the Company by subscribing to the right issue floated last year.