NAICOM to unveil strategic plans to transform Insurance industry –official Reforms By Rukayat Adeyemi /Ginika Okoye Lagos, June 3, 2021 (NAN) The National Insurance Commission (NAICOM), on Thursday, said that it will soon unveil reforms, strategic plans, digital and market development that will transform the
By Rukayat Adeyemi
Lagos, May 21, 2021 Great Nigeria Insurance (GNI) Plc has grown its annuity portfolio to N4.7 billion in the first quarter of 2021.
The companyâs Managing Director/Chief Executive Officer, Mrs Cecilia Osipitan, said this in a statement in Lagos on Friday.
Osipitan said the figure indicated an increase of 8,876.05 per cent when compared with N52.5 million recorded in the corresponding period of 2020.
She attributed the performance to doggedness of every member of staff in spite of the challenges encountered during the period.
Osipitan noted that âlife annuity is a stream of periodic payments that commences at a specified date, which is either the normal retirement age or at age 50 in the case of early retirement.â
By Rukayat Adeyemi
Lagos, May 17, 2021 Sovereign Trust Insurance Plc has announced a Profit Before Tax (PBT) of N510 million for the first quarter of 2021.
A statement made available by the insurer on Tuesday in Lagos indicates that the figure represents 66 per cent improvement over N306 million recorded in Q1 2020.
The Insurance company said that its Profit After Tax (PAT) grew by 43 per cent from N274 million in the first quarter of 2020 to N392 million in the first quarter of 2021.
It said that its total gross premium written grew from N3.6 billion in the first quarter of 2020 to N5.3 billion, which is an increase of N1.7 bIllion and a growth rate of 46 per cent in the current financial year.
By Rukayat Adeyemi
Lagos, May 4, 2021 AIICO Insurance Plc has posted Gross written Premium (GWP) of N19.7 billion for the first quarter March 31, 2021.
The GWP represented an increase of 12.2 per cent when compared with N17.6 billion posted in the corresponding period of 2020.
Mr Segun Olalandu, the companyâs Head, Strategic Marketing and Communications Department, said this in a statement on Tuesday in Lagos.
Olalandu explained that the performance was due to an increase of 34.0 per cent in the general insurance business.
He noted that the underwriting profit of N27.7 billion recorded during the review period compared with N131.0 million achieved in the corresponding period also contributed to the rise.
Sunu Assurance grows GPW by 53 % in 1st quarter
By Rukayat Adeyemi
Lagos, April 29, 2021 Sunu Assurance Nig. Plc on Thursday announced that its group Gross Premium Written (GPW) witnessed a 53.16 per cent increase from N1. 471 billion in first quarter 2020 to N2.252 billion in first quarter of 2021.
This is contained in the companyâs statement of profit and loss and other comprehensive income for the first quarter ended March 31,2021.
The insurer said that it was able to cut its loss for the period by 58.23 per cent to N 319.121 million from the N763.906 million loss recorded in 2020
Sunu Insurance offers non -life insurance for the domestic and corporate sectors as well as asset management and health management services.