2020 FY Results: Sovereign Trust Insurance Plc records a 37% increase in profit after tax.

Sovereign Trust Insurance Plc released its audited full-year results for the period ended 31st December, 2020.

  • Net premium income for the year was N6.54 billion (+10%YoY)
  • Net claims expenses totalled N3.49 billion. (+58% YoY)
  • Underwriting profit of N1.99 billion. (-4% YoY)
  • Profit after tax was N687.7 million. (+37% YoY)
  • Earnings per share of 8kobo vs 6kobo YoY.
  • No dividend was announced

See link to results.

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