The Universal Insurance Company Limited (UIC) has reported a net loss after tax of Rs5.88 million for the quarter ended March 31, 2026, marking an improvement from the Rs7.07 million loss recorded during the corresponding period last year. The financial results were approved by the company’s Board of Directors at its meeting held on April 29, 2026.
According to the company’s financial statement, the loss per share also improved to Rs0.12, compared with Rs0.14 in the same quarter of 2025. Despite continued pressure on underwriting operations, the company managed to reduce its overall losses through stronger investment and other income.
UIC reported net insurance premium of Rs14.99 million, a significant increase from Rs4.85 million recorded in the corresponding quarter last year. However, underwriting operations remained under pressure, resulting in an underwriting loss of Rs8.65 million, although this represented an improvement compared to the underwriting loss of Rs16.42 million posted a year earlier.
The company generated investment income of Rs3.06 million, up from Rs1.69 million in the same period last year, while rental income and other income also contributed to mitigating the overall loss. These gains helped offset higher management and insurance-related expenses during the quarter.
As of March 31, 2026, Universal Insurance’s total assets stood at Rs905.17 million, slightly lower than Rs907.98 million at the end of December 2025. Meanwhile, shareholders’ equity increased to Rs730.38 million from Rs727.19 million, supported by gains in the fair value reserve on available-for-sale investments.
The Board of Directors did not recommend any cash dividend, bonus shares, or right shares for the period under review.
The latest financial results indicate that while Universal Insurance continues to face challenges in its core underwriting business, improved investment returns and prudent financial management helped reduce quarterly losses, providing a modest improvement in the company’s overall financial performance.
