Tan Sri Teh Hong Piow said LPI ended the third quarter with a lower profit due to an increase in claims reported and a slower growth in gross premium income.
KUALA LUMPUR: LPI Capital Bhd
reported lower net profit of RM87.82mil in the third quarter ended Sept 30,2019 due to an increase in claims reported and a slower growth in gross premium income.
The insurer, which kicked off the third quarter reporting season on Tuesday, said the net profit had declined by 4.3% from RM91.81mil a year ago. Earnings per share were 22.04 from RM23.04.
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