Union Assurance reported steady progress in terms of turnover and profitability for the nine months ended September 2009.

General and life insurance premiums for the year increased by 4% from Rs. 4.2 billion in 2008 to Rs. 4.4 billion as at September 2009.

This was mainly due to the increase in life insurance premiums which grew by 11% from Rs. 1.8 billion as at September 2008 to Rs. 2.0 billion as at September 2009. General insurance premiums up to the 3rd quarter of 2009 of Rs. 2.4 billion was consistent with the figure achieved during the previous period.

Consolidated profit before tax increased by 43%, from Rs. 118 million as at September 2008 to Rs. 169 million as at September 2009.