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Home > Issuers > Listed Securities > Securities > Company Profile Page

Oman Insurance Company (P.S.C.)

OIC
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Daily Summary -

  • Market: DFM
  • Symbol: OIC
  • ISIN: AEO000101014
  • Sector: Insurance

Company Brief

Country of Origin: United Arab Emirates (U.A.E)

Oman Insurance Company P.S.C., (the “Company”) which was established by an Amiri Decree issued by His Highness, The Ruler of Dubai, is a public shareholding company and is registered under Federal Law No. 8 of 1984 (as amended) relating to commercial companies in U.A.E. The Company is subject to the regulations of U.A.E. Federal Law No. 6 of 2007, on Establishment of Insurance Authority and Organization of Its Operations and is registered in the Insurance Companies Register of Insurance Authority of U.A.E. under registration number 9. The Company is a subsidiary of Mashreq Bank (PSC) incorporated in the Emirate of Dubai.

The Company engages in the business of issuing short term and long term insurance contracts. These insurance contracts are issued on connection with property, motor, aviation and marine risks (collectively known as general insurance) and individual life (participating and non-participating), group life, personal accident, medical and investment linked funds. The Group also operates in Oman and Qatar through branches.

Key Facts

ESTABLISHED

Nov 1, 1975

AUDITOR

Deloitte & Touche

FISCAL YEAR END

DECEMBER

REGISTRAR

Oman Insurance Company

Board Members

CHAIRMAN

H.E. Abdulaziz Abdulla Al Ghurair

DEPUTY

Mr. Abdul Raouf Al Shaikh Ahmed Al Mubarak

MEMBERS

Mr. Rashed Saif Saeed Al Jarwan
Mr. Hani Rashed Juma Al Hamli
Mr. Ali Rashed Ahmad Lootah
Mr. Badr Abdulla Ahmad Al Ghurair
Mr. Nabeel Waheed Rashed Waheed

Top Management

CHIEF EXECUTIVE OFFICER

Mr. Christos Adamantiadis

Equity Profile

DATE OF LISTING

Oct 2, 2004

SECTOR

Insurance

AUTHORIZED CAPITAL:

461,872,000.00 UAE Dirham

ISSUED SHARES

461,872,000.00

PER VALUE SHARE

1.00 UAE Dirham

Subsidiaries


Equator Trading Enterprise United Arab Emirates 99.97 %
Synergize services FZ-LLCDubai100%
Support Management Service - IraqIraq99%

Dubai Starr Sigorta - Turkey 

Turkey50.98%

Contact Details

Head Office

Dubai, UAE

Address

7&8th Floor, W5, Dubai Airport Freezone, P.O. Box: 5209, Dubai, UAE

Phone No.

+9714 233 7777

Fax No.

+9714 233 7775

Email address:

contact@tameen.ae

Website

http://www.tameen.ae

Showing Last 10 Disclosures - OIC View all
No data could be found.
Showing Last 10 Issuer News - OIC View all
No data could be found.
Showing Last 10 Financial Reports - OIC View all
OIC 16-05-2017 07:31 AM

Financial statements for the 1st QTR of 2017

1 File(s)
OIC 31-12-2016 02:18 AM

Financial statements for the year of 2016

1 File(s)
OIC 30-09-2016 11:32 AM

Financial statements for the 3rd QTR of 2016

1 File(s)
OIC 30-06-2016 12:41 AM

Financial statements for the 2nd QTR of 2016

1 File(s)
OIC 01-05-2016 11:54 AM

Financial statements for the 1st QTR of 2016

1 File(s)
OIC 31-03-2016 03:57 AM

Financial statements for the year of 2015

1 File(s)
OIC 12-11-2015 03:30 AM

Financial statements for the 3rd QTR of 2015

1 File(s)
OIC 05-08-2015 03:30 AM

Financial statements for the 2nd QTR of 2015

1 File(s)
OIC 11-05-2015 03:30 AM

Financial statements for the 1st QTR of 2015

1 File(s)
OIC 28-01-2015 04:00 AM

Financial statements for the year 2014

1 File(s)
Showing Last 10 General Meetings - OIC View all
Meeting Date/TimeMar 21, 2017 09:00:00 AMType of MeetingGeneral Assembly
Net Profit/Loss78,895,000Cash Dividend10
Bonus Share
Announcements/Resolutions

1.     Approved the report of the Board of Directors for the company's activity and its financial position for the fiscal year ended on 31/12/2016

2.     Adopted and approved the Auditor's report for the fiscal year ended on 31/12/2016

3.     Adopted and approved the Company's Balance Sheet and Profit and Loss Account for the fiscal year ended on 31/12/2016

4.     Approved the proposal of the Company’s Board Of Directors concerning the distribution of 10% cash dividends amounting to AED 46,187,212.50.

5.     Discharged the Company’s Board members of the liability for the financial year ended on 31-12-2016

6.     Discharged the Company’s auditors of the liability for the financial year ended on 31/12/2016

7.     7-Approved the reappointment of   Auditors, external Auditors (Deloitte & Touch) for the fiscal year ended 2017 at a fees of 587,000 AED, which should not exceed 800,000 AED, In addition, some tasks have been added in accordance with the requirements of the provisions of the Insurance Commission related to the organization of corporate finance.

8.     Approved the fees of Company’s Board Members.

9.     Approved the Article of Association of the company to comply with the provisions of Federal Law No. 2 of 2015.

Last Date For Dividend EntitlementWednesday, March 29, 2017Ex-Dividend DateThursday, March 30, 2017
Register Closing (Settlement) DateSunday, April 02, 2017Trading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityDFM Meeting VenueDubai- Head Office - Maktoum St, Al-Maktoum Buldg. next to concord Hotel
1 File(s)
Meeting Date/TimeMar 15, 2016 09:00:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss81,207,000 Cash Dividend10%
Bonus Share
Announcements/Resolutions

1.       Approved the report of the Board of Directors for the company's activity and its financial position for the fiscal year ended on 31/12/2015

2.       Adopted and approved the Auditor's report for the fiscal year ended on 31/12/2015

3.       Adopted and approved the Company's Balance Sheet and Profit and Loss Account for the fiscal year ended on 31/12/2015

4.       Approved the proposal of the Company’s Board Of Directors concerning the distribution of 10% cash dividends amounting to AED 46,187,212.50.

5.       Discharged the Company’s Board members of the liability for the financial year ended on 31-12-2015

6.       Discharged the Company’s auditors of the liability for the financial year ended on 31/12/2015

7.       Approved the reappointment of Deloitte & Touch as the External Auditors of the Company for a fee of AED 587,000 for the year 2016.

8.       Approved the fees of Company’s Board Members.

9.       Approved the re-election of the following persons as members of the board for a Three year period:

 

1.      H.E. Abdulaziz Al Ghurair

2.      Mr. Abdul Raouf Al Mubarak

3.      Mr. Rashed Al Jarwan

4.      Mr. Hani Al Hamli

5.      Mr. Ali Lootah

6.      Mr. Badr Al Ghurair

7.     Mr. Nabeel Waheed

Last Date For Dividend EntitlementWednesday, March 23, 2016Ex-Dividend DateThursday, March 24, 2016
Register Closing (Settlement) DateSunday, March 27, 2016Trading Suspension Date
Trading Resuming DateDividends Payment DateWednesday, April 06, 2016
Payment EntityDFM Meeting VenueAl-Rigga Business Center - next to IBIS Hotel
1 File(s)
Meeting Date/TimeFeb 22, 2015 03:30:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss224,849,000Cash Dividend10%
Bonus Share
Announcements/Resolutions

-         Approved the report of the Company’s Board of Directors on the Company’s activities and its financial position for the financial year ended on 31/12/2014

-         Approved the report of the Company’s auditor for the financial year ended on 31/12/2014

-         Approved the Company’s budget and its profit and loss statement for the year ended 31/12/2014

-         Approved the proposals of the Company’s board of directors concerning the distribution of 10% Cash Dividends of the share capital to the Shareholders by majority votes

-         Approved the proposals of the Company’s board of directors to not distribute remuneration to the members of the board of the year ended 31/12/2015

-         Approved to discharge the Company’s board members of the liability for the financial year ended on 31/12/2014

-         Approved to discharge the Company’s auditors of the liability for the financial year ended on 31/12/2014

-         Approved to appoint Deloitte & Touche as the Auditors of the Company for the year 2015 and their fees.

Last Date For Dividend EntitlementMonday, March 02, 2015Ex-Dividend DateTuesday, March 03, 2015
Register Closing (Settlement) DateWednesday, March 04, 2015Trading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityDFMMeeting Venue3rd Floor, Al Rigga Business Center (next to IBIS Hotel), Dubai
1 File(s)
Meeting Date/TimeMar 16, 2014 10:00:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss246498000Cash Dividend10%
Bonus Share0%
Announcements/Resolutions

Approved the reports of the Board of Directors on the Company’s activities and its financial position during the financial year ended 31/12/2013. Approved the Auditors’ Report for the financial year ended 31/12/2013. Approved the balance sheet and the profit and loss account for the financial year ended 31/12/2013.  Approved the distribution of 10% as cash dividend. Approve the suspension of deducting the 10% statutory reserve which it has reached one-half of the paid-up capital of the company. Discharged the Board of Directors and the Auditors for the financial year ended 31/12/2013. Re-appointed Deloitte & Touche as the Auditors for the year 2014 with the annual remuneration of AED 587,000/-

Last Date For Dividend EntitlementMonday, March 24, 2014Ex-Dividend DateTuesday, March 25, 2014
Register Closing (Settlement) DateWednesday, March 26, 2014Trading Suspension DateSunday, March 16, 2014
Trading Resuming DateSunday, March 16, 2014Dividends Payment DateMonday, March 31, 2014
Payment EntityOman Insurance Company (PSC)Meeting VenueDubai Airport Free Zone Office of the Company
1 File(s)
Meeting Date/TimeMar 31, 2013 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss187,342,000.00Cash Dividend5%
Bonus Share0%
Announcements/Resolutions

The ratification of the report of the Governing Council on the activities of the company and its financial position for the financial year ended 31/12/2012
The ratification of the auditors for the financial year ended 31/12/2012
The ratification of the company's balance sheet and profit and loss account for the financial year ended 31/12/2012
The ratification of the Board's proposal to distribute cash dividend of 5%
Agree to discharge the members of the Board of Directors and auditors for the financial year ended 31/12/2012
Appointment of auditors for the year 2013 and determine their
fees

Last Date For Dividend EntitlementMonday, April 08, 2013Ex-Dividend DateTuesday, April 09, 2013
Register Closing (Settlement) DateWednesday, April 10, 2013Trading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueCompany Office
1 File(s)
Meeting Date/TimeMar 22, 2012 02:00:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss108,158,000.00 AEDCash DividendN/A
Bonus Share10%
Announcements/ResolutionsApproved the Board of Directors report on the activity of the company and its financial position for the financial year ended 31/12/2011- Approved the auditors' report for the financial year ended 31/12/2011- Approved the balance sheet and profit and loss accounts for the financial year ended 31/12/2011- Approved the Board's proposal to distribute bonus shares by 10% - Discharge of the members of the Board of Directors and Auditors for the financial year ended 31/12/2011- Reset the auditors for the year 2012 and determine their fees - Accept the resignation of Mr. Sultan Abdullah Al Ghurair, a member of the board of directors and the appointment of Mr. Bader Abdullah Al Ghurair as Adhar new Board of Directors
Last Date For Dividend Entitlement28/03/2012Ex-Dividend Date29/03/2012
Register Closing (Settlement) Date01/04/2012Trading Suspension DateN/A
Trading Resuming DateN/ADividends Payment Date
Payment EntityMeeting VenueCompany office- 8 floor - block A - building W5 - Dubai Airport Free Zone
1 File(s)
Meeting Date/TimeMar 01, 2011 05:00:00 PMType of MeetingAnnual General Meeting
Net Profit/LossAED 94,087,000Cash Dividend
Bonus Share
Announcements/Resolutions- Approved Directors and auditor’s report for the year ended 31/12/2010 - Approved on the consolidated financial statements for the year ended 31/12/2010 – Approved not to distribute dividends- Absolved the members of the Board of Directors and the auditors from responsibilities for the year ended 31/12/2010 – appoint and re-appoint external auditors for the Financial Year 2011
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueCompany’s head office
Meeting Date/TimeJun 08, 2010 11:00:00 AMType of MeetingAnnual General Meeting
Net Profit/LossAED 189,635,000Cash Dividend
Bonus Share
Announcements/Resolutions- Approved electing BOD members for the next three years
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date08/06/2010
Trading Resuming Date09/06/2010Dividends Payment Date
Payment EntityMeeting VenueCompany’s head office
Meeting Date/TimeApr 20, 2010 11:00:00 AMType of MeetingAnnual General Meeting
Net Profit/LossAED 189,635,000Cash Dividend
Bonus Share
Announcements/Resolutions- Appointed external auditors for the Financial Year 2010
Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date20/04/2010
Trading Resuming Date21/04/2010Dividends Payment Date
Payment EntityMeeting VenueCompany’s head office
Meeting Date/TimeFeb 23, 2010 11:00:00 AMType of MeetingAnnual General Meeting
Net Profit/LossAED 189,635,000Cash Dividend40%
Bonus Share10%
Announcements/Resolutions- الموافقة على تقرير مجلس الإدارة للسنة المالية المنتهية في- 31/12/2009 الموافقة على البيانات المالية للسنة المالية المنتهية في 31/12/2008 - الموافقة على توزيع 40% أرباح نقدية و 10% أسهم منحة - إبراء ذمة أعضاء مجلس الإدارة والمدققين من المسؤولية عن السنة المالية المنتهية في 31/12/2009
Last Date For Dividend Entitlement03/03/2010Ex-Dividend Date04/03/2010
Register Closing (Settlement) Date07/03/2010Trading Suspension Date23/02/2010
Trading Resuming Date24/02/2010Dividends Payment Date
Payment EntityMeeting VenueCompany’s head office
Top ShareholdersLast Refreshed at: 20 July 2017

Individual Investors

ShareholdersPercentage
MASHREQ BANK 63.94%

No data could be found.
Foreign Investments View all
National GCC Arab Other Nationalities
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
United Arab Emirates 100% 100% 0% 0% 0% 0% 0% 0% 20-07-2017
Showing Last 10 Corporate Governance Reports - OIC View all
  • 27-02-2017

    OIC CGR 2016

  • 31-12-2015

    Corporate Governance Report - OIC 2015

  • 01-01-2013

    Corporate Governance Report OIC 2013

  • 09-01-2011

    Corporate Governance Report OIC 2011

Showing Corporate Actions - OIC View all
Year2017Corporate Action TypeCash dividend
Last Date For Action Entitlement3/29/2017Ex-Dividend Date3/30/2017
Register Closing (Settlement) Date4/2/2017Trading Suspension Date1/1/1900
Trading Resuming Date1/1/1900Run (Effective) Date1/1/1900
Corporate Action DetailsDistribute 10% cash dividend as agreed at the GA held on 21/03/2017
Year2016Corporate Action TypeCash dividends
Last Date For Action Entitlement3/23/2016Ex-Dividend Date3/24/2016
Register Closing (Settlement) Date3/27/2016Trading Suspension Date3/15/2016
Trading Resuming Date3/15/2016Run (Effective) DateNot Available
Corporate Action DetailsDistribute 10% cash dividends as agreed at the GA held on 15/03/2016
Year2015Corporate Action TypeCash Dividends
Last Date For Action Entitlement3/2/2015Ex-Dividend Date3/3/2015
Register Closing (Settlement) Date3/4/2015Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsDistribute 10% cash dividends as agreed at the AGM held on 22/02/2015
Year2014Corporate Action TypeCash Dividends
Last Date For Action Entitlement3/24/2014Ex-Dividend Date3/25/2014
Register Closing (Settlement) Date3/26/2014Trading Suspension Date3/16/2014
Trading Resuming Date3/16/2014Run (Effective) DateNot Available
Corporate Action DetailsDistribute 10% cash dividends as agreed at the AGM held on 16/03/2014
Year2012Corporate Action TypeBonus Shares Issue
Last Date For Action Entitlement3/28/2012Ex-Dividend Date3/29/2012
Register Closing (Settlement) Date4/1/2012Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsIssue 10% bonus shares as agreed at the AGM held on 22/03/2012
Year2010Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement3/3/2010Ex-Dividend Date3/4/2010
Register Closing (Settlement) Date3/7/2010Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsDistribute 40% cash dividends as agreed at the AGM held on 23/02/2010.
Year2010Corporate Action TypeBonus Shares Issue
Last Date For Action Entitlement3/3/2010Ex-Dividend Date3/4/2010
Register Closing (Settlement) Date3/7/2010Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) Date3/8/2010
Corporate Action DetailsIssue 10% bonus shares as agreed at the AGM held on 23/02/2010 leading the number of shares reaches 419,883,750
Year2009Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement3/11/2009Ex-Dividend Date3/12/2009
Register Closing (Settlement) Date3/15/2009Trading Suspension Date3/4/2009
Trading Resuming Date3/5/2009Run (Effective) DateNot Available
Corporate Action DetailsDistribute 50% cash dividends as agreed at the AGM held on 04/03/2009.
Year2008Corporate Action TypeBonus Shares Issue
Last Date For Action Entitlement2/26/2008Ex-Dividend Date2/27/2008
Register Closing (Settlement) Date2/28/2008Trading Suspension Date2/18/2008
Trading Resuming Date2/19/2008Run (Effective) Date2/27/2008
Corporate Action DetailsIssue 35% bonus shares as agreed at the AGM held on 18/2/2008 leading the number of shares reaches 381,712,500.00
Year2008Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement2/26/2008Ex-Dividend Date2/27/2008
Register Closing (Settlement) Date2/28/2008Trading Suspension Date2/18/2008
Trading Resuming Date2/19/2008Run (Effective) DateNot Available
Corporate Action DetailsDistribute 35% cash dividends as agreed at the AGM held on 18/2/2008.
Year2007Corporate Action TypeCash Dividends Distributions
Last Date For Action Entitlement3/5/2007Ex-Dividend Date3/6/2007
Register Closing (Settlement) Date3/7/2007Trading Suspension Date2/25/2007
Trading Resuming Date2/26/2007Run (Effective) Date3/7/2007
Corporate Action DetailsDistribute 35% as agreed at the AGM held on 25/2/2007.
Year2007Corporate Action TypeBonus Shares Issue
Last Date For Action Entitlement3/5/2007Ex-Dividend Date3/6/2007
Register Closing (Settlement) Date3/7/2007Trading Suspension Date2/25/2007
Trading Resuming Date2/26/2007Run (Effective) Date3/7/2007
Corporate Action DetailsIssue 16% bonus shares as agreed at the AGM held on 25/2/2007 leading the number of shares reaches 282,750,000.
Year2006Corporate Action TypeBonus Shares Issue
Last Date For Action Entitlement2/18/2006Ex-Dividend Date2/19/2006
Register Closing (Settlement) Date2/20/2006Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) Date2/20/2006
Corporate Action DetailsIssue bonus shares in the ratio of (150%) activated as agreed at the Extraordinary Meeting held on 12/02/2006. Number of shares becomes 243,750,000.
Year2005Corporate Action Type50% Bonus Shares
Last Date For Action Entitlement2/9/2005Ex-Dividend Date2/10/2005
Register Closing (Settlement) Date2/12/2005Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) Date2/12/2005
Corporate Action DetailsIssue bonus shares in the ratio of one share for every two shares held is activated as agreed at the Extraordinary Meeting held on 08/02/2005, Number of shares becomes 9,750,000
Year2005Corporate Action TypeStock Split (10:1)
Last Date For Action Entitlement2/9/2005Ex-Dividend Date2/10/2005
Register Closing (Settlement) Date2/12/2005Trading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) Date2/13/2005
Corporate Action DetailsStock Split in the ratio of ten shares for every one share is activated as agreed at the Extraordinary Meeting held on 08/02/2005. Change of par value from AED 10 to AED 1. Number of shares becomes 97,500,000
Disclaimer
  • Ownership percentage is subject to change based on several reasons including the following:
    1. Trading activity.
    2. Off-Market Transactions such as family and inheritance transfers.
    3. Changes in the nationality status of investors.
    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.
    5. Capital increase by issuing new shares to a strategic investor.
    6. Converting Bonds into shares.
    7. Equity added to the equity of the associated group.
    8. Direct Deals.

 

Percentages are updated daily after 4 pm
Disclaimer
The above published Ownership Percentages:
  • Are updated daily at the end of every trading day based on date of trade and not settlement date.

  • The ownership percentages are rounded off to 2 decimal places

  • Ownership percentages are subject to change due to the following:

    1. Trading activities.

    2. Off-Market Transactions such as family and inheritance transfers.

    3. Changes in the nationality status of investors.

    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.

    5. Capital increases, by issuing new shares to Strategic investor

    6. Converting bonds or Sukuk into shares.

    7. Changes of associated group’s ownership.

    8. Direct Deals. (The ownership percentage is changed immediately after the execution of the deal).

    9. Failed trade settlement.


DISCLAIMER

The information provided in this document is only available in Arabic due to the (Dubai court attestations only being in Arabic herein after referred thereto as (“Information”) is provided by way of general information and comment only. While reasonable care has been taken in producing this Information, changes in circumstances may occur at any time and may impact on the accuracy of the Information. The Information does not constitute professional advice or provision of any kind of services and should not be relied upon as such.  Dubai Financial Market (“DFM”) and/or its affiliates, officers or employees,  does not give any warranty or representation as to the accuracy, reliability, timeliness or completeness of the Information now or in the future. DFM shall not be liable for any loss suffered, directly or indirectly by any person acting in reliance upon the Information contained herein. 


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