UOI H2 net profit surges 51.5% to S$23.7 million
[SINGAPORE] United Overseas Insurance (UOI), the insurance arm of UOB, posted a net profit of S$23.7 million for the second half of its 2025 fiscal year ended Dec 31 – a 51.5 per cent increase from S$15.6 million in the year-ago period.
In a bourse filing on Friday (Feb 20), UOI said its insurance revenue fell 6.8 per cent to S$58.3 million for the half-year due to market challenges and pricing pressures.
However, its non-underwriting income rose 69.4 per cent to S$11.1 million, “supported by disciplined investment management amid favourable market conditions”.
Net expenses from reinsurance contracts decreased by 21.7 per cent. As a result, the net insurance service and financial result fell 7.7 per cent to S$10.3 million.
For the full year, UOI’s net profit was up 8.4 per cent at S$32.3 million. The insurer attributed this to net insurance and non-underwriting income, and a tax refund which reflected an adjustment to prior tax assessments.
Earnings per share for FY2025 stood at S$0.5281, up from S$0.4874 in FY2024.
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The board recommended a final dividend of S$0.195 a share. Including the interim dividend of S$0.07 paid on Aug 19, the total payout for the year stood at S$0.265 per share, higher than the S$0.23 distributed in the previous financial year.
The group’s total comprehensive income for FY2025 jumped 72.6 per cent to S$67.5 million, due largely to unrealised profits of S$35.2 million.
UOI attributed this to resilient financial markets and moderating inflationary pressures, which led to valuation gains across various asset classes.
The insurer’s Singapore business remained the dominant revenue driver, contributing S$95.5 million to the full-year total. Asean and other regions accounted for S$11.9 million and S$8 million, respectively, of total insurance revenue.
UOI noted sustained momentum in its key Asean markets of Singapore, Thailand, Malaysia, Indonesia and Vietnam. Coupled with rising risk awareness and accelerating digital adoption, this provides “significant growth opportunities”.
Shares of UOI closed flat at S$7.93 on Friday, before the results.
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