United Insurance says it earned around LD66m ($53m) in revenues during the 2012 financial year.

According to the Libyan Stock Market (LSM), on which United Insurance is listed, the company generated revenues of LD65.9m ($52.7m) in the financial year ending 31 December 2012.

Total costs reached LD44.4m ($35.5m) during the same period. No further figures were released but the numbers suggest that the firm made a net profit before taxes and provisions of some LD21.5m ($17.2m) in 2012.

The statement said that the figures had not yet been verified by an independent auditor.

In November United Insurance published its third-quarter results for 2012, which said it generated LD52.8m ($41.9m) in insurance premiums, plus a further LD3.5m ($2.8m) in investment and other income.

It said its general and operating costs totalled LD6.5m ($5.2m), and that it had paid out LD16.3m ($12.9m) in insurance claims.

United was established in 1997 and offers a range of products including life, accident and car insurance. Its ownership is split between public and private investors.