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United Overseas Insurance chalks up 11.1% rise in Q2 net earnings

Published on Aug 5, 2014 9:00 PM

SINGAPORE - United Overseas Insurance (UOI) has posted an 11.1 per cent rise in second quarter net profit to $7.6 million.

This was despite a 3.4 per cent drop in gross premiums written to $32 million for the three months to June 30.

Net earned premiums increased by 3.2 per cent while net claims incurred fell by 12.1 per cent due to pruning measures.

Consequently, underwriting profit increased by $200,000.

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