PTA Re-insurance profits up by 91%
May 26, 2009
ZEP-RE Preferential Trade Area (PTA) re-insurance company has recorded a 91% growth in profits from $24m in 2003 to $46m in 2008. “The last five years have seen the company consistently record good profits that include $2m in 2004, $1.8m in 2005, $2.5m
By David Muwanga
ZEP-RE Preferential Trade Area (PTA) re-insurance company has recorded a 91% growth in profits from $24m in 2003 to $46m in 2008. “The last five years have seen the company consistently record good profits that include $2m in 2004, $1.8m in 2005, $2.5m in 2006, $5.2m in 2007 and $12m in 2008,†the Prime Minister, Prof. Apolo Nsibambi, said.
This was in a speech read by planning state minister, Prof. Ephraim Kamuntu, at the opening of the company’s 18th annual general meeting at the Kampala Serena Hotel.
Nsibambi said the meeting was held at the right time when the region was experiencing the effects of the global economic crisis.
“It has negatively affected our programmes. Commodity prices are low, tourism numbers are on the decline and development aid is likely to be reduced,†he said.
Nsibambi said the crisis had hampered regional efforts aimed at addressing major socio-economic ills like poverty, hunger and diseases.
ZEP-RE Preferential Trade Area (PTA) re-insurance company has recorded a 91% growth in profits from $24m in 2003 to $46m in 2008. “The last five years have seen the company consistently record good profits that include $2m in 2004, $1.8m in 2005, $2.5m in 2006, $5.2m in 2007 and $12m in 2008,†the Prime Minister, Prof. Apolo Nsibambi, said.
This was in a speech read by planning state minister, Prof. Ephraim Kamuntu, at the opening of the company’s 18th annual general meeting at the Kampala Serena Hotel.
Nsibambi said the meeting was held at the right time when the region was experiencing the effects of the global economic crisis.
“It has negatively affected our programmes. Commodity prices are low, tourism numbers are on the decline and development aid is likely to be reduced,†he said.
Nsibambi said the crisis had hampered regional efforts aimed at addressing major socio-economic ills like poverty, hunger and diseases.