SRI LANKA’S UNION ASSURANCE ENJOYS PROFIT GROWTH

Net profit for Sri Lanka's Union Assurance in the June quarter was up 63%, on the back of revenue up a fifth. Gross written premiums of Rupees1.3bn helped contribute to net profit for the quarter of Rupees49m. Revenue totalled Rupees1.4bn with income from other investments showing a 44% improvement to Rupees288m. The second quarter performance helped push net profit for the first half of the year to Rupees90m up 78% on a year ago. The group’s premium income for life and general insurance in the first half totalled Rupees2.9bn up 15% on last year.