UOI posts 2.9% rise in full-year earnings

Singapore

UNITED Overseas Insurance (UOI) has reported a 2.9 per cent rise in financial year 2014 net profit to S$28.2 million. This was despite a 1.2 per cent dip in gross premiums written for the full year to S$108.1 million, due to portfolio pruning.

Net earned premiums rose slightly to S$44.6 million, while net claims incurred fell 9.5 per cent to S$18.4 million.