The United Insurance Company said that due to the high number of vehicle accidents and the high cost of spare parts, compensation given by the insurance has increased compared to the previous year.
The insurance company said it has paid more than 288 million birrs in compensation. The company made a profit of adding up to 212 million birr.
The company decided today to increase its paid-up capital from 250 million birr to 500 million birr.
The total paid-up capital of Union Insurance has reached 473 million 416,000 birr and the total assets of the company have exceeded 1 billion birrs.
United Insurance said it has collected 660 million 34,000 birr in premium income from non-life insurance.
The insurance also announced its diversified service involving in the real estate investment sector.