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Eagle
revenue growth soars by 18% in Q1
- Recorded
a growth of 18% in Consolidated revenue up 18% to
Rs 1.6 b
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Life and General insurance business grew by 8% and
27% respectively
- Eagle
Insurance PLC recorded a consolidated revenue of Rs.1,594
million for the first quarter of 2008, representing
18% growth over the corresponding period in 2007.
 The
total gross written premium income grew by 14% to Rs.1,
516 million compared to the previous year. Life and
general insurance premiums recorded a growth of 8% and
27% respectively with Rs. 948 million and Rs.568 million.
The
Group recorded a net profit before tax of Rs. 21 million
for the quarter. This is 45% lower than the corresponding
period of 2007. The dip in performance was due to the
large number of claims settled in the general insurance
business. The Group’s commitment towards expense
management initiatives has ensured that the operating
expenses are within the budget, despite rising costs.
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