Mubasher: Standard & Poor’s (S&P) on Thursday affirmed its “BBB” rating on the Muscat-listed Oman United Insurance, according to the company's statement.

S&P's outlook for the company has been changed to negative from stable after downgrading of the sovereign ratings.

The Omani insurance company's profits retreated 13.7% to OMR 2.01 million in the first quarter in 2017, compared to OMR 2.33 million in Q1-16.