• Money & Markets
Wednesday, August 10, 2022
  • Login
No Result
View All Result
NEWSLETTER
Money & Markets
18 °c
Nairobi
18 ° Fri
18 ° Sat
18 ° Sun
18 ° Mon
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
  • News
  • Big Read
  • Markets
  • Economy
  • Investing
  • Energy
  • Opinion
  • Africa
  • World
No Result
View All Result
Money & Markets
No Result
View All Result
Home Africa

UAP Group net profit slide 61.6 percent

by Editor
June 12, 2020
in Africa
0 0
0
UAP Group net profit slide 61.6 percent
0
SHARES
34
VIEWS
Share on FacebookShare on Twitter

Insurance firm, UAP Group has recorded a 61.6 percent drop in net profit for first half 2018, financial results forwarded to Nairobi Securities Exchange (NSE) today morning show.

Profit after tax for the period declined to Sh190. 9 million from Sh496.8 million for a similar period last year.

The profit slide was driven by a decline in gross written premiums, a commentary from the firm said.

“The Group registered a 2.5 percent decline in Gross Written Premium (GWP) with Net Earned Premium (NEP) growing marginally by 0.3 percent. A key plank of our strategy is profitable growth thus we undertook actions to selectively acquire accounts so as not to jeopardise our underwriting performance. Other reasons for the decrease in revenue include economic contraction in South Sudan and a more challenging operating environment in Tanzania,” the firm said.

The group’s Life business grew 14.1 percent for the period while investment income expanded by 11.0 percent on account of better returns from fixed income and rental income from group property investments

Tags: UAP Group
Editor

Editor

Next Post
Transcentury cuts losses by 34.1 percent

Transcentury cuts losses by 34.1 percent

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *




Latest Articles

  • PwC and KBA have released the Kenyan Banking Sector Total Tax Contribution report
  • Fresh Kenyan Avocados sold at the largest fruit market in East China
  • Safaricom unveils ‘Tuinuane’ Brand Campaign.
  • Mozzart Bet to sponsor the national women volleyball team Malkia strikers
  • Mozzart Bet unveils Nandi Road Race sponsorship
  • Shift Towards Domestic Tourism a Game Changer in Post-Covid-19 Recovery
  • Equity Bank has been feted as the Best Bank in Kenya in the 2022
  • Kenya Academy of Sports 2nd International Sports Conference begins in Nairobi
  • Kodris Africa officially unveiled in Kenya as Government adopts new content for teaching coding for schools
  • KCB Shareholders approve Ksh 9.64B  dividend payout.  

TOP SEARCHES

acquisition AfDB Airtel Banks brexit CBK Central Bank Central Bank of Kenya China COVID-19 dividends energy Equity Bank Equity Group Equity Group Holdings Finserve High Court ICT Imperial Bank Insurance interest rates Jambojet Jumia KCB KDIC KenGen Kenya Kenya Airways KRA M-Pesa MD mKey MPesa NSE Patrick Njoroge profit profits Safaricom Safaricom foundation shareholders shares SMEs StarTimes Tanzania Uhuru Kenyatta




  • Money & Markets

© 2020

No Result
View All Result
  • Money & Markets

© 2020

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In