Union Assurance (UA), continued its growth impetus in both turnover and profits at the end of the third quarter recording a steady growth in gross written premium (GWP) and profits as at the end of the third quarter of 2015.
GWP for the nine months upto September 30,2015 wasRs. 5 billion compared to Rs. 4.3 billion in the corresponding period, a growth of 16%.
Total net revenue excluding gains recorded from disposal of the non-life business amounted to Rs. 6.7 billion, which was a 1% increase over the previous year. Total net revenue including the gain was Rs. 7.9 billion.
Profit after tax (PAT), including the disposal gain amounted to Rs. 1.5 billion. PAT excluding the disposal gain amounted to Rs. 245 million compared with the Rs. 101 million PAT reported in 2014.
The above PAT figures do not include a surplus from the life business, as the surplus is transferred at year end following actuarial valuation.
As at September 30, 2015 UA’s life fund stood at Rs. 26 billion with a healthy solvency ratio indicating the financial strength of the business.
GWP for the nine months upto September 30,2015 wasRs. 5 billion compared to Rs. 4.3 billion in the corresponding period, a growth of 16%.
Total net revenue excluding gains recorded from disposal of the non-life business amounted to Rs. 6.7 billion, which was a 1% increase over the previous year. Total net revenue including the gain was Rs. 7.9 billion.
Profit after tax (PAT), including the disposal gain amounted to Rs. 1.5 billion. PAT excluding the disposal gain amounted to Rs. 245 million compared with the Rs. 101 million PAT reported in 2014.
The above PAT figures do not include a surplus from the life business, as the surplus is transferred at year end following actuarial valuation.
As at September 30, 2015 UA’s life fund stood at Rs. 26 billion with a healthy solvency ratio indicating the financial strength of the business.
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