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Friday, 11 July 2008
Improved Underwriting Profits despite Soft Market
Lonpac has improved its underwriting profits by 8.6% to RM22.8 mil despite operating in a very soft and competitive market. Premium rates were eroded in such a market. Lonpac recorded underwriting surplus in all classes of insurance and registered a higher solvency margin surplus of RM199.7 mil above the minimum required solvency margin of RM490.2 mil.
Gross premium income grew to RM292.5 mil from RM257.1 mil and net income grew 15.5% to RM192.3 mil from RM166.5 mil.
Source: The Star & Business Times
Labels: Lonpac
About Me
- Name: Teh Loo Hai
- Location: Kuala Lumpur, Malaysia
Loo Hai is an actuarial recruiter cum actuarial consultant. He has over 20 years of work experience gained in Malaysia and Australia in the actuarial, insurance, takaful and pension fields.
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