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Sri Lanka Aviva December net down 21-pct

Feb 16, 2012 (LBO) - Sri Lanka's Aviva NDB Insurance said December 2011 quarter net profit fell 21 percent to 482 million rupees from a year ago with sales down 34 percent to 2.9 billion rupees. Gross written premium from life and general businesses fell 26 percent to 2.
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3 billion rupees in the December 2011 quarter, accounts filed with the Colombo Stock Exchange showed.

The firm reported investment income halved to 517 million rupees for the quarter.
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In the year ending December 2011, Aviva NDB Insurance's net profit rose 15.3 percent to 692 million rupees while sales fell 15.8 percent to 12.8 billion from a year ago.

Earnings per share for the year were 23.05 rupees compared with 20.01 rupees the year before.

Aviva NDB Insurance shares closed at 201.30 rupees Thursday, up 1.30 rupees.