Bangkok--24 Aug--Neo Target
Deves Insurance PCL revealed its THB 1,520 million revenue for the fiscal second quarter and insurance profit of THB 308 million or 43% increase from the same period of last year.
Mr.Anant Keskasemsook, President of Deves Insurance PCL, said that in the second quarter of 2010 the company’s gross premium writtten was THB 1,520 million. Of the total premium, THB 610 million was premium ceded to reinsurance. As a result, the company’s net premium written was THB 910 million.”
Additionally, the company had unearned premium reserves of THB 123 million, which was not accounted in the revenue. The total underwriting expenses stood at THB 479 million. As a result, the company’s income on underwriting for the second quarter ended 30 June 2010 was THB 308 million, an increase of THB 92.38 million or 43% from a year ago.
The company’s premium from fire insurance business was THB 107 million. Premium from marine insurance was THB 49.54 million. Premium from motor insurance was THB 651.73 million. And miscellaneous insurance premium was THB 712.04 million.
For investment incomes for the fiscal second quarter, the profits from investment fell THB 5.87 million to THB 34.90 million. The net profits after operating expenses were THB 37.87 million, resulting in earnings per share of Baht 3.16. At the end of quarter 2, the company’s total assets stood at THB 4.4 billion. Liabilities were at THB 2.38 billion. Attribution of equity holders of the company accounted for THB 2.06 billion.
“The company will continue to penetrate into retail customers in 2010 as well as to maintain existing customers through various types of marketing activities. We think that still there is a huge opportunity for non-life insurance business to grow,” Anant added.
Deves Insurance Public Limited, the company owned by the Crown Property Bureau, is the Thai non-life insurer that has been operating with stability, integrity and transparency for more than 60 years.
For more information, please contact
Lalida Leelanukul
T.02-631-2290-5 ext. 305