Tuesday July 10, 2012
LPI Capital sees rise in Q2 profit
Petaling Jaya: Insurance provider LPI Capital Bhd posted a 28.69% rise in net profit to RM40.43mil in the second quarter ended June 30 compared to the corresponding quarter a year ago on better underwriting results stemming from growth in the general insurance segment.
The company said in a filing to the stock exchange that revenue expanded nearly 24% to RM265.02mil on the back of higher gross-earned premium.
LPI’s founder and chairman Tan Sri Teh Hong Piow said in a press release that the company was able to deliver yet another set of remarkable results for the quarter under review despite the challenging industry and operating investment environment.
“The substantial improvement on our performance is the reflection of our ability to stay focused on risks selection and the robustness of our diversified business model, driven by a strong underwriting discipline and good rosk management,” he said.
In a separate filing, the company announced a first interim dividend of 15 sen per ordinary share.