May 14, 2013 (LBO) – Profits at Union Assurance Plc, a unit of Sri Lanka’s John Keells Holdings rose 31 percent to 111.3 million rupees in the March 2013 quarter from a year earlier, helped by investment income and fair value gains. The firm reported earnings of 1.30 rupees per share. The stock closed at 103.10, down 2.90 rupees Monday.
Gross written premium rose 11 percent to 2.66 billion rupees and net benefits and claims rose 20 percent to 1.8 billion rupees.
Investment income rose 13 percent to 592 million rupees and fair value gains were 51 million rupees compared to a loss of 171 million rupees last year.
Gross assets rose to 26.7 billion rupees in March 2013 quarter from 25.8 billion rupees in December. Net assets fell to 3.9 billion rupees from 4.3 billion rupees after paying a 375 million rupee dividend.