Churche appointed Chairman at Eagle Insurance in Sri Lanka - 23 July, 2001
Frank Schnewlin, Group Management Board Member and Eagle Insurance PLC., Sri Lanka Chairman has relinquished his position on the board of Eagle Insurance with effect from May 23, 2001. Warwick Churche, former Group Chief Life Actuary and currently the Chief Financial Officer of the Group's Asia Pacific region, has been appointed a director of the Company in place of Frank Schnewlin and elected Chairman of the Company with effect from May 23, 2001.
Strong first-quarter results
Eagle Insurance once again commenced the first quarter of 2001, by recording an increase in Revenues of 11 percent over corresponding period last year and a profit after tax of Rs. 33 million, which is a 25 percent increase over the previous year.
Life premium income growth of 5 percent over the corresponding period last year to Rs. 449 million is mainly due to the success of the Eagle Investment Plans. Non Life premium increased marginally to Rs. 231 million, with a renewed focus on profitable business segments. Asset management operations continued to yield positive results.
Group Communications
Group Head Office, May 30,2001/4049ee
