Coronation Insurance profit dip by 20% to N796.5 million in half year 2021.

Coronation Insurance Plc released its unaudited financial statements for the period ended June 30, 2021.

  • Gross premium written for the period was N10.8 billion. (+33.9% YoY)
  • Fees and commission income of N1.14 billion. (+63.8% YoY)
  • Total gross claims paid during the period were N2.28 billion. (+10% YoY)
  • Underwriting profit was N2.52 billion. (+394.8% YoY)
  • Personnel expenses totalled N931.65 million. (+5.8% YoY)
  • Profit for the period was N796.5 million. (-20.4% YoY)

See link to results.

Mutual Benefits Assurance Plc reports a loss of N1.98 billion in HY 2021.

Mutual Benefits Assurance Plc released its unaudited financial results for the period ended June 30, 2021.

  • Net premium income for the period was N11.97 billion. (+52.1% YoY)
  • Fee and commission income of N359.18 million. (+7.4% YoY)
  • Net benefits and claims totalled N3.61 billion. (+26.2% YoY)
  • Underwriting profit was N5.53 billion. (+106.7% YoY)
  • A loss after tax of N1.98 billion was recorded during the period.
  • Loss per share of -10 kobo (-242.9% YoY)

See link to results.

SUNU Assurances Nigeria Plc confirms Taiwo Kuku as substantive secretary.

SUNU Assurances Nigeria Plc has notified its stakeholders and the investing public about the appointment of Mrs Taiwo Kuku as its substantive Secretary/Head of Legal Services, with effect from 1st of August, 2021.

She was appointed Acting Secretary of the company on 7th of June, 2021 following the exit of her predecessor, Mr John Akujieze. The decision to confirm her appointment was taken at the recently concluded Board meeting of the Company held on 29th of July, 2021.

By the virtue of her appointment, Mrs Taiwo will guide the Board of the Company in ensuring strict compliance with regulatory and statutory requirements.

Profile

Taiwo Olubunmi Kuku is a lawyer with over 18 years of cognate experience spanning across company secretarial services, corporate governance practices, compliance and general legal practice.

She holds an LLB degree from the Olabisi Onabanjo University (formerly Ogun State University) 2002; and she was subsequently called to the Nigerian Bar in 2003. She is a member of the Nigerian Bar Association (NBA), an Associate Member of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) and the Nigerian Institute of Chartered Arbitrators of Nigeria.

 

 

Anjan Dey resigns as a director from the board of Prestige Assurance Plc

The Board of Prestige Assurance Plc has announced the resignation of Mr. Anjan Dey from its Board as a Non-Executive Director, effective from 27th of July, 2021.

The announcement was made in a statement signed by the Acting Secretary of the company, Chidinma Ibe-Louis, which reads: ‘’Prestige Assurance Plc (the Company) wishes to inform the Nigerian Exchange Limited (NGX), its shareholders and investing public that Mr. Anjan Dey, a Non-Executive Director of the company, has resigned from the Board, effective 27th July, 2021.’’

Recall that few weeks back, the company also announced the retirement of another Non-Executive Director, Mr. Gopalan Raghu, from its board effective from 28th of April, 2021. Mr. Raghu retired from his position after over nine years of meritorious service to the board.

What you should know about Mr. Anjan Dey

  • Anjan Dey is an astute Insurance Professional, who has cut an edge in insurance underwriting, marketing and new products development.
  • He joined the parent company of Prestige Assurance (The New India Assurance Company Limited) as direct recruit on 1st of July, 1986. He rose through the ranks to become the country Head for New India Assurance Co. Ltd, Aruba, Dutch Caribbean from the year 2000 to 2005. He held the unique position of Chief underwriter for the Regional office and as well served as Member of Regional Claims Committee from 2005 to 2008.
  • He is a first class graduate from university of Allahabad and holds a post graduate degree from Monirba-Premier Institute under University of Allahabad with specialization in Marketing Research and management. He is also an Associate of Insurance Institute of India.
  • He was appointed into the board of Prestige Assurance on 29th of July, 2019.

As at the period of reporting this, Prestige Assurance share price trades at 45 kobo on the floor of the Nigerian Exchange Limited (NGX).

 

2021 Half Year Results: CHI Plc grows profit by 48% to N436.5 million.

Consolidated Hallmark Insurance Plc released its unaudited financial results for the period ended June 30, 2021.

  • Gross premium written for the period was N6.09 billion. (+14.1% YoY)
  • Net premium income of N3.3 billion. (+13.45% YoY)
  • Claims incurred totalled N1.03 billion. (+3.6% YoY)
  • An underwriting profit of N1.28 billion was recorded. (+15.6% YoY)
  • Profit after tax for the period was N436.5 million. (+47.7% YoY)
  • Earnings per share of 5.37kobo Vs 3.34 kobo YoY

See link to results.

Guinea Insurance Plc reports loss of N90.59 million in HY 2021.

Guinea Insurance Plc released its unaudited financial results for the period ended June 30, 2021.

  • Gross premium written for the period was N807.8 million. (+57.03% YoY)
  • Net premium income of N433.7 million. (+16.1% YoY)
  • Claims expenses totalled N70.4 million. (-29.8% YoY)
  • Insurance contract liabilities totalled N1.06 billion. (+17.9% YoY)
  • Loss for the period was N90.59 million
  • Total assets during the period stood at N3.7 billion.

See link to results.

2021 Half Year Results: AIICO Insurance records a 14% increase in profit to N3.25 billion

AIICO Insurance Plc released its unaudited financial results for the period ended June 30, 2021.

  • Gross premium written was N37.48 billion. (+17% YoY)
  • Net premium income of N29.17 billion. (+21% YoY)
  • Net claim expenses of N20.94 billion (+45% YoY)
  • Profit for the period was N3.25 billion.(+14% YoY)
  • Earnings per share of 6 kobo Vs 40 kobo YoY.
  • Total shareholders fund for the period was N35.83 billion.

See link to results.

2021 HY Results: Coronation Insurance profit after tax slump by 39.2% to N397.8 million

Coronation Insurance Plc released its unaudited financial results for the period ended June 30, 2021.

  • Net premium income for the period was N4.61 billion. (+26.4% YoY)
  • Fees and commission income of N434.98 million. (-57.9% YoY)
  • Total claims paid was N2.9 billion (+84.04% YoY)
  • Total underwriting profit of N892.05 million. (-55.1% YoY)
  • Profit after tax for the period was N397.8 million.(-39.2% YoY)
  • Earnings per share of 2 kobo Vs 2 kobo YoY.

See link to results.

Linkage Assurance Plc reports a loss after tax of N2.09 billion in Half Year 2021.

Linkage Assurance Plc released its unaudited financial results for the period ended June 30, 2021.

  • Gross premium for the period was N6.92 billion. (+32% YoY)
  • Net premium income of N2.4 billion. (+18% YoY)
  • An underwriting loss of N1.03 billion was incurred. (-382% YoY)
  • Total assets for the period stood at N35.72 billion. (+5% YoY)
  • Insurance contract liabilities totalled N9.35 billion. (+63% YoY)
  • Claims ratio of 41% Vs 19% YoY.
  • Loss after tax for the period was N2.09 billion. (-480% YoY)
  • Loss per share of -21 kobo. (-402.9% YoY)

See link to results.

Prestige Assurance Plc grows half-year profit by 25% N776.5 million

Prestige Assurance Plc released its unaudited financial results for the period ended 30th of June, 2021.

  • Gross premium for the period was N5.43 billion. (+38.9% YoY)
  • Net premium income of N2.6 billion. (+34.8% YoY)
  • Interest income was N371.3 million. (+59.4% YoY)
  • Underwriting expenses totalled N2.26 billion. (+51.4% YoY)
  • Profit for the period was N776.5 million. (+25.2% YoY)
  • Earnings per share of 5.86 kobo Vs 4.68 kobo YoY.
  • Total assets for the period stood at N19.42 billion. (+4.96% YoY)

See link to results.