United Insurance clocks 6% higher profit

United Insurance Company Ltd registered a 6 per cent year-on-year growth in profit to Tk 7.79 crore last year, thanks to higher premium collections and interest incomes.

Its profit stood at Tk 7.34 crore in 2021, according to a disclosure on the Dhaka Stock Exchange.

The company reported earnings per share of Tk 1.75 for the year that ended on December 31, which was Tk 1.65 in 2021.

Net asset value per share decreased to Tk 32.68 in 2022 from Tk 36.45 in 2021 whereas the net operating cash flow per share (NOCFPS) fell to Tk 0.69 from Tk 2.49.

The NOCFPS decreased due to higher claim and reinsurance premium payments while the NAVPS declined because of a decline in the fair value of investments in shares of United Finance Ltd.

The board of directors recommended a 10 per cent cash dividend for 2022.

United Insurance shares closed unchanged at Tk 37.90 on the DSE yesterday.