Insurance companies selling Sars-related products have seen sales rise during the past two months of the outbreak. MassMutual Insurance Asia, the regional arm of one of the largest United States insurers MassMutual Financial Group, yesterday reported profit growth of 28 per cent year on year in the first five months of this year to HK$51 million. New sales of individual life insurance were up 18 per cent compared with the year-earlier period to $142 million. Managing director and chief executive Elroy Chan Siu-yuen said Sars was one of the reasons for the growth. Mr Chan said the company offered a $10,000 cash benefit as additional benefit to all policyholders in Hong Kong and Macau when they caught Sars. 'This has helped to boost sales,' he said. 'We have seen many clients purchasing cover for Sars.' Medical insurance specialist Goodhealth Worldwide (Asia-Pacific) recorded 20 per cent yearly growth of sales of cover in China, Vietnam and Indonesia in April and last month.
Ocean Grand sees 174pc profit rise in year
Main-board listing candidate Ocean Grand Chemicals is forecast to post a 174 per cent year-on-year rise in net profit in the year to March this year to HK$63.58 million, thanks to higher sub-contracting business, according to a research report by its listing sponsor. Net profit should increase 21.24 per cent in the year to March next year to $77.09 million, JS Cresvale said.
Virus hits Hainan Airport
Hainan Meilan Airport Company yesterday said the outbreak of Sars on the mainland drove passenger numbers, aircraft movement, and cargo throughput down 83.3 per cent, 65.6 per cent and 54.5 per cent respectively at its Meilan airport in Hainan.
