United Overseas Insurance's (SGX:U13) attributable profit to equity holders declined 39% during the first half of the year to SG$8.6 million from SG$14.2 million a year earlier, according to a Wednesday filing with the Singapore Exchange.
Earnings per share dropped to SG$0.2825 compared with SG$0.4641 in the comparable period.
Insurance revenue jumped 12% year over year to SG$57.2 million from SG$51.0 million, driven by higher gross incurred claims.
The directors declared a one-tier tax-exempt dividend of SG$0.07 per share.
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