Union Assurance Ltd. reported earnings results for the first quarter ended March 31, 2009. The company reported net profit for the quarter went up 24% to LKR 51 million ($424,626) from a year ago. Revenues for the three months rose 16% to LKR 1.5 billion. Gross written premium fell 3% to LKR 1.5 billion from a year ago with premium from general insurance falling 11% to LKR 907 million while gross written premium from life went up 11% to LKR 615 million. Investment income rose 26% to LKR 355 million in the March 2009 quarter where high interest rates generated gains from fixed income investments. Pre-tax profits were up 62% to LKR 67 million from the year before.

Union Assurance Ltd. reported group earnings results for the fourth quarter and full year ended December, 2008. For the quarter, the company said group net profit shot up 33% to LKR 232 million ($2.03 million) from a year ago with the bottom line buoyed by income from investments. Revenues rose 17% to almost LKR 1.5 billion. For the year, the company reported net profit shot up 35% to LKR 342 million from the previous year with revenues rising 21% to almost LKR 5.6 billion. General and life insurance premiums for 2008 increased by 14% to LKR 5.7 billion from LKR 5.0 billion in 2007.

Union Assurance Ltd. reported earnings results for the second quarter and six months to June 2008. For the quarter, the company reported net profit went up by 63%. Its after-tax profit rose to LKR 49 million ($454,774) in the quarter from LKR 30 million in the same period one year ago. Group revenue was up by 21% to LKR 1,368 million during the three months ended June. Union Assurance earnings per share increased to LKR 1.31 from LKR 0.80 a year ago The firm's six month profits shot up 78% to LKR 90.3 million.