United Overseas Insurance's (SGX:U13) profit before tax declined by 3% in Q1 to SG$7.8 million from SG$8.0 million a year earlier, according to a filing with the Singapore Exchange on Monday.
This was due to a 12% decline in non-underwriting income of SG$3.7 million from SG$4.2 million a year earlier.
Insurance revenue surged 15% to SG$27.3 million from SG$23.7 million during the period.
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