LPI Capital records net profit of RM61.53mil in 1Q

KUALA LUMPUR: LPI Capital Bhd's net profit for the first quarter ended March 31, 2022, fell 25.25% to RM61.53mil from the same quarter a year ago owing to a higher claims ratio and a lacklustre performance in the investment portfolio.

The insurer reported that revenue came in at RM397.7mil, 9.8% lower as compared to RM440.8mil in the corresponding quarter in the previous year due mainly to lower gross earned premium.