United Overseas Insurance Logs 2% Decrease in Pre-Tax Profit in 9M 2024

MT Newswires

2024-10-23

United Overseas Insurance (SGX:U13) booked a 2% year over year decrease in its pre-tax profit for nine months ended Sept 30, to SG$22.1 million from SG$22.5 million, a filing with the Singapore Exchange said on Wednesday.

The company posted a higher insurance revenue of SG$79.4 million, up 14% from SG$69.5 million in the year-ago period, mainly due to release of contractual service margin for services.

The insurance provider's total assets increase by nearly 5% to SG$603.9 million from SG$577.5 million in the year-ago period.

Price (SGD): S$7.15, Change: S$-0.0100, Percent Change: -0.14%

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