Union Assurance reports steady progress
Union Assurance PLC reported positive results in both turnover and
profits for the nine months ended September 30, 2010.
Union Assurance PLC CEO
Dirk Pereira |
General and life insurance premiums increased by 9 percent from Rs
4.4 billion to Rs 4.8 billion for the nine months ended September 30,
2010 compared to the same period of the previous year.
This was mainly due to the increase in life insurance premiums which
grew by 19 percent from Rs 2 billion in 2009 to Rs 2.4 billion in 2010.
General insurance premiums recorded a marginal growth of 0.3 percent
compared to the previous year.
Profit before taxation increased by 20 percent from Rs 169 million as
at September 2009 to Rs 202 million as at September 2010.
Profit after tax also increased by 8 percent from Rs 133 million in
September 2009 to Rs 144 million in September 2010. |