Fall in non-underwriting income hits UOI's Q2 bottom line

Singapore

UNITED Overseas Insurance (UOI) achieved a 12.5 per cent rise in second-quarter underwriting profit despite lower net earned premiums. But the group's net profit tumbled 47.8 per cent to S$5.09 million for the three months ended June 30, 2015, as non-underwriting income took a hit.

Annualised earnings per share for Q2 were 33.29 Singapore cents, down from 53.11 cents a year ago.