Union Assurance PLC reports balanced growth in 2012
View(s):Union Assurance PLC (UA), which has completed 25 years of operations, has reported balanced growth in both turnover and profits.
UA’s combined life and general gross written premiums increased to Rs. 9.7 billion, up 12 per cent growth from the previous year. Life insurance premiums increased by 14 per cent to Rs. 5.1 billion, the company said in a media announcement Non-life insurance premiums contributed Rs. 4.6 billion to the combined turnover while maintaining disciplined underwriting practices.
Pre-tax profit amounted to Rs. 1 billion, up 32 per cent over 2011 while post tax profit also increased by 33 per cent to Rs. 921 million.
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