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Sri Lanka's Aviva NDB Insurance posts loss in March quarter

 

Tuesday, May 11,2010, 11:30:21 AM   Click:

Sri Lanka's AVIVA NDB INSURANCE made an 80 million rupee (US$703,760) loss in March 2010 quarter from a year ago, as wage and sales costs rose and it faced higher claims, accounts filed at the stock exchange showed. Aviva NDB Insurance made 98.3 million rupee profit during the March quarter last year.

* In the March 2010 quarter, Aviva NDB Insurance group's gross premium income was up 34.4 per cent to 2.08 billion rupees, while its re-insurance premium had dipped 4.3 per cent to 290.6 million, resulting in a net written premium income of 1.8 billion rupees, up 43.4 per cent.

* Aviva NDB Insurance, formerly known as Eagle Insurance, was taken over by AVIVA INSURANCE of the UK, the world's sixth largest insurance company, in January 2010.

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