United Overseas Insurance revenue rises 6% YoY in Q1’24

The company saw its net earnings reach $8m during the quarter.

United Overseas Insurance saw its revenue increase 6% year-on-year (YoY) to US$23.7m, driven by its business growth with the parent bank and intermediaries.

Likewise, its net insurance financial result surged 46% YoY to US$3.8m due to overall revenue growth across various business lines.

Income from other sources nearly doubled (91%) from the same period last year to US$4.2m, attributable to higher dividend and interest income and mark-to-market gains from investments.

ALSO READ: United Overseas Insurance profits surge 55% YoY FY’23

Earnings before tax surged 67% YoY to US$8m, influenced by improved insurance service results and favourable market conditions driving higher investment returns.

Shareholders equity accumulated US$444.9m, which was up 4.9% YoY. Additionally, total assets inched up 2.2% YoY to US$589.5m.

Follow the links for more news on

Financial Statements

insurance

Also Read

High-income S’poreans grapple with retirement planning amidst rising financial needs

Financial and planning gaps leave Singaporeans unprepared for retirement: report

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit