Coronation Insurance Plc: Notice of Annual General Meeting.

The Board of Coronation Insurance Plc has announced that it will be hosting its 62nd Annual General Meeting (AGM) in Lagos on the 3rd of September, 2021.

According to a notice signed by the company’s secretary, Mary Agha and sent to the Nigerian Exchange Group Limited (NGX), the meeting will hold at the head office of the insurance firm in Ikoyi-Lagos on the aforementioned date and by 10:00am prompt.

In light of this, the following issues will be discussed;

  • The audited financial statement for the year ended December 31, 2020, and the report of its Directors, auditor, and the audit committee.
  • Board appointments will also be considered and ratified.
  • To fix remuneration of managers and Directors in FY 2021.
  • To elect shareholders’ representatives of the statutory audit committee.

For more details about the AGM, click HERE.

 

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.

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.

Coronation Insurance Plc announces Board Meeting.

Coronation Insurance Plc has notified stakeholders and the investing public of its imminent Board of Directors meeting, scheduled to hold on Thursday July 29, 2021.

This is according to a disclosure signed by the Company’s secretary, Mary Agha and sent to the Nigerian Exchange Group Limited.

The meeting is scheduled to consider and approve the unaudited financial statements of the company for the second quarter of the year. In line with this, the company will be observing a closed period from 1st of July, 2021 until 24 hours after the unaudited financial statements have been filled with The Exchange.

Under the closed period, the Directors, employees, persons discharging managerial responsibility, adviser of Coronation Insurance Plc and their connected persons, are restricted from dealing either directly or indirectly in the securities of the company.

What you should know:

  • Coronation Insurance Plc had earlier reported a profit after tax N1.2 billion in FY 2020, indicating a massive surge of about 461% Year-on-Year.

For more information about the notice, click HERE.

2021 Q1 Results: Coronation Insurance profit surge by 79% to N648.2 million.

Coronation Insurance Plc released its unaudited interim financial results for the first quarter of the year ended 31st of March, 2021.

  • Net premium income for the period was N2.32 billion. (+2.2% YoY)
  • Fees and commission income of N228.15 million. (-47.3% YoY)
  • Total claims paid during the period was N1.64 billion (+43.01% YoY)
  • Underwriting profit was N755.85 million. (-41.7% YoY)
  • Operating expenses totalled N1.36 billion. (-10.8% YoY)
  • Profit after tax was N648.2 million. (+79.4% YoY)

See link to results.

2020 FY Results: Coronation Insurance Plc profit after tax surge by 461% to N1.2 billion.

Coronation Insurance Plc released its audited full-year results for the period ended 31st of December 2020.

  • Net premium income for the year was N7.4 billion. (-5.8% YoY)
  • Fee and commission income was N2.11 billion. (+26.7% YoY)
  • Total claims paid during the period was N6.91 billion (+69.5% YoY)
  • Underwriting profit of N3.29 billion.(+12.5% YoY)
  • Expenses for the period totalled N5.43 billion. (+1.3% YoY)
  • Profit after tax was N1.2 billion. (+460.9% YoY).
  • Earnings per share of 7 kobo Vs 2 kobo YoY.

See link to results.