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Singapore insurer's profit down over 36%

Posted On: Feb. 8, 2023 9:57 AM CST

Financial results

Singapore-based United Overseas Insurance Ltd.'s net profit declined 37% year-on-year to $16.7 million Singaporean ($12.61 million) in 2022, The Business Times reported. Gross written premiums increased 1.6% year-on-year to SGD99 million, driven by employer liability, marine classes of insurance and inward reinsurance.