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Nat Re's profit surges 80%

Posted On: Jul. 1, 2019 6:32 AM CST

National Reinsurance Corp. of the Philippines' net income surged 80% year over year to 149 million Philippine pesos ($2.9 million) in 2018, Asia Insurance Review reported. The reinsurer said that its profit grew after diversifying its business geographically, exiting or reducing unprofitable treaties and growing its nonfire business. Nat Re's nonlife premiums grew nearly 16% to PHP 2.6 billion, driven by its foreign business.

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