Kurnia Asia nets RM36.7m 9-month profit

by **hlk** Thu 24 Nov 2011, 18:57

Kurnia Asia Bhd has posted a 1.9 per cent year-on-year gross written premium increase to RM814.6 million for the nine months ended Sept 30, 2011.

It was attributed to a 18 per cent year-on-year growth in the group's non-motor business segment, the company said in a statement today.

It said the group recorded a net profit of RM36.7 million for the nine-month period, up 57.6 per cent, mainly attributable to the improved underwriting performance.

It said Kurnia Insurans (Malaysia) Bhd's non-motor business contribution to total gross premium income jumped to 20.4 per cent from 17.4 per cent a year ago as non-motor business segment alone expanded by 18.7 per cent year-on-year to reach RM161.2 million for the period under review.

Its underwriting profit for the first nine months amounted to RM10.9 million against an underwriting loss of RM22.6 million in the previous year. -- Bernama