LPI Capital targets 15pct growth in gross premiums in FY11
Written by Chong Jin Hun at theedgemalaysia.com
Thursday, 24 February 2011 14:03
KUALA LUMPUR: Insurer LPI CAPITAL BHD [] is targeting a 15% growth in gross premiums in the financial year ending Dec 31, 2011.
Its chief executive officer Tee Choon Yeow said on Thursday, Feb 24, the growth would be boosted by new businesses from strategic partners which are also global insurers.
He said LPI was also expanding its agency force with three planned branch offices in Peninsular Malaysia. It has 16 branches now.
“Net profit growth for FY11 should be more than 15%,” he told reporters after its AGM here. In FY10, LPI raked in RM755.93 million in gross premiums.
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