By J. Kurukulasuriya
Ceylon FT: Union Assurance PLC., a part of the John Keellls Group, released its quarterly unaudited accounts to 31 March 2014, showing a 3% increase in "total gross written premiums" to Rs 2,742 million over the previous year's corresponding figures.
Total net revenue was Rs 3,157 million, segment wise being 37% Non Life and 63% Life insurance.
Of the "total gross written premiums" of 2,742 million, Sector wise, the Life insurance premia were 50.4 % and Non Life premia were 49 %. In the Non Life insurance sector, the main component was motor insurance-which consisted 51%, followed by fire-14%, accident and liability - 27 % and marine insurance -7.6%.
Profit for the period Rs 123 million was up 11 % as compared to the previous year's same quarter. An increase in "Underwriting and net acquisition cost-including re-insurance"-up 13% and an increase in admin expenses of 17%, was reported.
The stated capital of the company is Rs 1,138 million, consisting of 85 million ordinary shares. The "public shareholding" as defined by the CSE was 4.34%.
The shares traded between a high of Rs 103 and a low of Rs 100 within the quarter.
The major shareholders of the company are John Keels Holdings PLC with 88% of the shares, and Whittall Boustead Ltd., with 7%. Dr. V. Bandaranayake was the biggest individual holder with 0.14%. Of the directors, A. D. Gunewardene - Chairman, held 8,562 shares.
www.ceylontoday.lk
Ceylon FT: Union Assurance PLC., a part of the John Keellls Group, released its quarterly unaudited accounts to 31 March 2014, showing a 3% increase in "total gross written premiums" to Rs 2,742 million over the previous year's corresponding figures.
Total net revenue was Rs 3,157 million, segment wise being 37% Non Life and 63% Life insurance.
Of the "total gross written premiums" of 2,742 million, Sector wise, the Life insurance premia were 50.4 % and Non Life premia were 49 %. In the Non Life insurance sector, the main component was motor insurance-which consisted 51%, followed by fire-14%, accident and liability - 27 % and marine insurance -7.6%.
Profit for the period Rs 123 million was up 11 % as compared to the previous year's same quarter. An increase in "Underwriting and net acquisition cost-including re-insurance"-up 13% and an increase in admin expenses of 17%, was reported.
The stated capital of the company is Rs 1,138 million, consisting of 85 million ordinary shares. The "public shareholding" as defined by the CSE was 4.34%.
The shares traded between a high of Rs 103 and a low of Rs 100 within the quarter.
The major shareholders of the company are John Keels Holdings PLC with 88% of the shares, and Whittall Boustead Ltd., with 7%. Dr. V. Bandaranayake was the biggest individual holder with 0.14%. Of the directors, A. D. Gunewardene - Chairman, held 8,562 shares.
www.ceylontoday.lk
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