This represented an increase of 41 per cent from the previous year’s figure of N3.61billion.
The company during the period achieved a Gross Written Premium of N19.98 billion, showing seven per cent growth from the previous year’s figure of N18.69 billion. This was contained in the 2020 financial results of the company recently released on the floor of the Nigeria Exchange Limited (NGX)
The result showed that profit before tax stood at N5.04 billion, representing a 34 per cent increase from N3.75 billion in 2019.
The company also recorded a 74 per cent growth in shareholders’ fund which rose to N23.35 billion from the N13.43 billion of 2019. Also, total assets grew by 22 per cent from N67.78 billion in the previous year to N82.87 billion in the year under review. Insurance contract liabilities for the year under review stood at N17.57 billion, a 25 percent increase from the previous year’s figure of N14.10 billion. In addition, total claims paid by Mutual Benefits Assurance
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