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From left: Dr. Fernando Im, Senior Country Economist for Sri Lanka and the Maldives, The World Bank, Hon. Eran Wickramaratne, State Minister, Ministry of Finance and Mass Media, Dr. W A Wijewardana, Former Deputy Governor of the Central Bank of Sri Lanka, Prof. Indralal de Silva, Former (Chair) of Demography, University of Colombo, Prof. Amala de Silva, Department of Economics, University of Colombo at the panel discussion on "Demographic Change in Sri Lanka" moderated by Dr. Ramani Gunatilaka, International Centre for Ethnic Studies.

Union Assurance Ltd said Thursday its net profits have nearly doubled on renewed business sentiment in the overall insurance market.
Its consolidate net profits was up Rs. 132.4 mn over Rs. 38.6 mn during the corresponding year 2002.rn

rnProfits from Non-Life business was up to Rs. 99.4 mn, while the surplus from the Life business was Rs. 33.0 mn.rn

rnRevenues from its Life Insurance business surged 31 percent to help the Life Fund top Rs. 2.96 bn in 2003.rn

rnGeneral Insurance Gross Written Premium increased by 3.8 percent and Life Insurance Gross Written Premium increased by 17.3 percent in 2003, the firm said in a statement. rn

rnUALs Investment portfolio witnessed a tremendous growth of 41 percent during the year, with long term insurance business contributing significantly.

Net Assets increased to Rs. 821 mn in 2003, a 13.1 percent growth over 2002. The Company recorded a return on net assets of 16.1 percent. rn


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