UNION ASSURANCE PLC (UAL.N0000)

sriranga · 1 UNION ASSURANCE PLC (UAL.N0000) Thu Oct 11, 2012 3:57 pm

sriranga

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http://www.cse.lk/cmt/upload_cse_announcements/4201349950306_.pdf

sriranga · 2 Re: UNION ASSURANCE PLC (UAL.N0000) Thu Oct 11, 2012 3:58 pm

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Fresher · 3 Re: UNION ASSURANCE PLC (UAL.N0000) Fri Oct 12, 2012 7:39 am

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We may be able to see some sort of market sentiment here. If the past trend continues, it will come down to the issue price, regardless of the ratio. Hope it won't happen that way.

Monster · 4 Re: UNION ASSURANCE PLC (UAL.N0000) Fri Oct 12, 2012 9:52 am

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Considering it's illiquidity (public holding is around 4%). I don't think it may reach to right issue price. However, it depends on the market condition. It will be a good price, if we can get it at the right issue value.

npp wrote:We may be able to see some sort of market sentiment here. If the past trend continues, it will come down to the issue price, regardless of the ratio. Hope it won't happen that way.

Redbulls

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Sri Lanka’s Union Assurance is planning to raise Rs. 750 million to strengthen the capital position of the company via a Rights Issue.
The firm will issue 10.714 million shares (10,714,285) through the proposed rights issue.

Union Assurance says, it has decided to issue 1 ordinary share for every 7 held by the shareholders and a share will be priced at Rs. 70.

The funds once raised, will be used to strengthen the capital position of the company to be inline with the regulatory requirements.

As of now, Union Assurance has issued 75 million shares while the insurers stated capital stands at Rs. 388.42 million.

Upon completion of the proposed rights issue, Union Assurance will have a total of 85.71 million in issue.

The firm will hold an EGM to seek the shareholder approval for the intended rights Issue.
http://www.news360.lk/business-finance/news-insurance-rights-issue-sri-lanka%E2%80%99s-12-10-2012-union-assurance-to-raise-rs-750-mln-via-a-%E2%80%98rights-issue%E2%80%99-789651

wmdcf · 6 UAL-Rights Issue Sat Oct 13, 2012 2:15 pm

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One (01) ordinary share for every Seven (07) ordinary shares held, at a price of Rs.70.00 per share.The Rights Issue is subject to the CSE approving, in principle, the issue and listing of shares and obtaining of shareholder approval at a General Meeting.The announcement has been published on the CSE website (www.cse.lk).

http://www.cse.lk/cmt/uploadAnnounceFiles/3441350010501_.pdf

nuwank · 7 Union Assurance Thu Nov 15, 2012 11:23 am

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It's a shame

http://www.sundaytimes.lk/121111/news/cutoff-from-livelihood-shut-out-by-insurance-company-19998.html

Jiggysaurus · 8 Re: UNION ASSURANCE PLC (UAL.N0000) Thu Nov 15, 2012 11:52 am

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nuwank wrote:
It's a shame

http://www.sundaytimes.lk/121111/news/cutoff-from-livelihood-shut-out-by-insurance-company-19998.html

Sad case but this is how insurance companies make money for their shareholders.
The following is what the article says
"Meanwhile, Union Assurance General Manager Jayeseeli Dissanayake said Nandana did not qualify for any compensation since he had made a false endorsement in his original declaration.“The policy holder had failed to state that there was a certain degree of risk in his work and that is the reason we have knocked him off the compensation list,” she said."

worthiness · 9 Re: UNION ASSURANCE PLC (UAL.N0000) Thu Nov 15, 2012 12:43 pm

worthiness

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Bad image on Union Assurance. Impact on business is priceless with this publicity.

Door to door canvassing being done by numerous insurance agents simply cheat the people to sell out a policy. Only knowledgeable people raise sensible questions with regard to terms & conditions of policy for which many guys are not capable of answering.

Moreover, all the guys related to this business should realize that the curse from victimized is unavoidable.

123longway · 10 UAL - Be Reasonable Thu Nov 15, 2012 4:35 pm

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Insurance is a contract of "UTMOST GOOD FAITH" This good faith is expected of only the client, in this instance where does it apply to UAL?.

rasika5 · 11 Union Assurance net up31 % Fri Jun 07, 2013 11:56 pm

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Sri Lanka's Union Assurance net up 31-pct
14 May, 2013 07:35:13
May 14, 2013 (LBO) - Profits at Union Assurance Plc, a unit of Sri Lanka's John Keells Holdings rose 31 percent to 111.3 million rupees in the March 2013 quarter from a year earlier, helped by investment income and fair value gains.

The firm reported earnings of 1.30 rupees per share. The stock closed at 103.10, down 2.90 rupees Monday.
Gross written premium rose 11 percent to 2.66 billion rupees and net benefits and claims rose 20 percent to 1.8 billion rupees.

Investment income rose 13 percent to 592 million rupees and fair value gains were 51 million rupees compared to a loss of 171 million rupees last year.

Gross assets rose to 26.7 billion rupees in March 2013 quarter from 25.8 billion rupees in December. Net assets fell to 3.9 billion rupees from 4.3 billion rupees after paying a 375 million rupee dividend.
http://www.lankabusinessonline.com/news/sri-lankas-union-assurance-net-up-31-pct/791592032

CSE.SAS · 12 Re: UNION ASSURANCE PLC (UAL.N0000) Sat Jun 08, 2013 12:00 am

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http://forum.srilankaequity.com/t28178-13-may-2013-interim-financial-statements-31-03-2013#165402

rasika5 · 13 Re: UNION ASSURANCE PLC (UAL.N0000) Sat Jun 08, 2013 12:24 am

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Only 4% public holding.Steady dividend payout. Good share in both the short and long term.

Teller · 14 UNION ASSURANCE PLC (UAL.N0000) Sat Mar 07, 2015 3:06 am

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Union Assurance PLC (UA), a leading player in the Sri Lankan insurance sector recorded steady growth in combined gross written premium (GWP) and profits as at the end of the fourth quarter of 2014.
GWP from life and non-life insurance for the 12 months period commencing from 1 January to the 31 December 2014 amounted to Rs. 11.2 billion compared to Rs. 10.9 billion in the preceding period. Life insurance premiums contributed Rs. 6 billion and non-life premiums contributed Rs. 5.2 billion. [2]
Total net revenue of the company grew by 13% to Rs. 13.7 billion in 2014 from Rs. 12.1 billion in 2013 mainly due to increase in investment income. Net benefits and claims including the increase in the life fund, grew by 17% as well.
Profit after tax (PAT) increased by 7% from Rs. 1,123 million in 2013 to Rs. 1,203 million in 2014. PAT included the surplus from life insurance business amounting Rs. 750 million in 2014 which was determined after an actuarial valuation as at year end.
As at 31 December 2014, UA’s life fund stood at Rs. 23 billion with a healthy solvency ratio indicating the financial strength of the business.
Without a doubt we have one of the strongest teams in the industry and it is evident in the results achieved by the company,” noted UA Director/Chief Executive Officer Dirk Pereira.”

nosf76677 · 15 UAL profits down! Fri Mar 06, 2020 11:05 am

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UAL profits down 60% year on year and 32% quarter on quarter! Do your homework!

nosf76677 · 16 UAL profits down! Thu Mar 12, 2020 2:10 pm

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Hope everyone did their homework and saw results!!!! Down 60%!

Teller · 17 Re: UNION ASSURANCE PLC (UAL.N0000) Sun Mar 15, 2020 1:45 am

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This share doest worth even 150 LKR, but major holders are collecting, my mind says may be a delisting or selling the business

Niwa · 18 Re: UNION ASSURANCE PLC (UAL.N0000) Fri Mar 04, 2022 12:34 pm

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1 in to 10 split plus Rs.22 dividend. Not bad at current price.

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UNION ASSURANCE PLC (UAL.N0000)

1 UNION ASSURANCE PLC (UAL.N0000) Thu Oct 11, 2012 3:57 pm

sriranga

2 Re: UNION ASSURANCE PLC (UAL.N0000) Thu Oct 11, 2012 3:58 pm

sriranga

3 Re: UNION ASSURANCE PLC (UAL.N0000) Fri Oct 12, 2012 7:39 am

Fresher

4 Re: UNION ASSURANCE PLC (UAL.N0000) Fri Oct 12, 2012 9:52 am

Monster

5 Sri Lanka’s Union Assurance to raise Rs. 750 mln. via a ‘Rights Issue’ Fri Oct 12, 2012 3:39 pm

Redbulls

6 UAL-Rights Issue Sat Oct 13, 2012 2:15 pm

wmdcf

7 Union Assurance Thu Nov 15, 2012 11:23 am

nuwank

8 Re: UNION ASSURANCE PLC (UAL.N0000) Thu Nov 15, 2012 11:52 am

Jiggysaurus

9 Re: UNION ASSURANCE PLC (UAL.N0000) Thu Nov 15, 2012 12:43 pm

worthiness

10 UAL - Be Reasonable Thu Nov 15, 2012 4:35 pm

123longway

11 Union Assurance net up31 % Fri Jun 07, 2013 11:56 pm

rasika5

12 Re: UNION ASSURANCE PLC (UAL.N0000) Sat Jun 08, 2013 12:00 am

CSE.SAS

13 Re: UNION ASSURANCE PLC (UAL.N0000) Sat Jun 08, 2013 12:24 am

rasika5

14 UNION ASSURANCE PLC (UAL.N0000) Sat Mar 07, 2015 3:06 am

Teller

15 UAL profits down! Fri Mar 06, 2020 11:05 am

nosf76677

16 UAL profits down! Thu Mar 12, 2020 2:10 pm

nosf76677

17 Re: UNION ASSURANCE PLC (UAL.N0000) Sun Mar 15, 2020 1:45 am

Teller

18 Re: UNION ASSURANCE PLC (UAL.N0000) Fri Mar 04, 2022 12:34 pm

Niwa