Prestige Assurance projects N1.1 billion PAT in Q4 2021.

Prestige Assurance Plc released its earnings forecasts for the fourth quarter of the year (Q4, 2021).

  • Turnover is projected to hit N9.25 billion
  • Profit before tax is projected at N1.39 billion
  • Tax is projected at N278 million
  • Profit after tax is projected at N1.11 billion.

The forecasts were made based on the following assumptions;

  1. There will be no serious Government restrictions on trade that will affect the insurance business.
  2. The company will not suffer any major catastrophe which will necessitate liquidation of investment portfolio for claims payment.
  3. There will not be any considerable reduction in the level of interest rate.
  4. The capital Market activities will improve significantly from the bearish position to the bullish.
  5. The country political climate shall be stable for carrying out business activities across the nation.
  6. The company will continue to deal with its present range of insurance policies.
  7. The company will enhance its present treaty arrangement due to recapitalization.
  8. The accounting policies will not change.
  9. The basis of taxation will not change materially.
  10. The company would maintain its present work force and additional hands will be employed to take care of increased business activities.
  11. There will be vigorous effort to improve upon the present market share.
  12. A part of the Proceed from recapitalization will be invested in government gilts to enhance investment income.
  13. There shall be no protest, pandemic and other pandemonium which might affect business transactions negatively.
  14. There will be availability of forex to meet up with the company’s obligation denominated in foreign currencies.

See link to forecasts.

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