Union Assurance records profits in third quarter
Union Motor ‘Call & Go’ popular:
Union Assurance reported strong growth in turnover and profitability
for the quarter and period ended September 2007.
General and life insurance premiums for the quarter grew by 17%, from
Rs. 971 million in 2006 to Rs. 1.1 billion
|
CEO of Union Assurance
Marina Tharmaratnam |
in 2007. Consolidated profit after tax also increased by 107%
to Rs. 30 million for the quarter ended 30th September 2007.
Life and general insurance premiums for the first nine months of the
year increased by 21% from Rs. 3.0 billion as at September 2006 to Rs.
3.6 billion as at September 2007. Consolidated profit after tax of Rs.
80 million as at September 2007 was 25% higher than the Rs. 64 million
recorded in the previous year.
The company’s innovative motor insurance product - Union Motor “Call
& Go,” has been well received in the market. “Call & Go” policyholders
who are involved in an accident on log an entry with the 24 hour call
center on 011-2428444 and obtain a reference number.
A competent Union Assurance representative will follow up to assess
the damage at a convenient location, and ensure speedy settlement of the
claim.
“By enabling the customer to go about his activities, without waiting
at the accident site for the insurance assessor, we have taken
convenience to a new level,” CEO of Union Assurance Marina Tharmaratnam
said. |
