Mutual Benefits Assurance Plc appoints Apel Capital Ltd. as new company Registrar.

Mutual Benefits Assurance Plc has announced the appointment of Apel Capital Registrars Limited as its new company registrar, with effect from 1st of September, 2021.

In a statement signed by the company’s secretary, Ide Ibitayo, and made available on the website of the Nigerian Exchange Limited (NGX), the firm stated that the new registrar will take over from Meristem Registrars and Probate Service Limited.

Confirming the recent development, an extract of the recent notice read: ‘Mutual Benefits Assurance Pic (Mutual Benefits Assurance or the Company) wishes to inform its valued shareholders, investing public and key stakeholders that the Company has appointed a new registrar – Apel Capital Registrars Limited. The appointment takes effect from September 2021. Apel Capital Registrars Limited will replace Meristem Registrars and Probate Services Limited.’’

What you should know about Apel Capital Registrars Limited.

Apel Capital Registrars Limited is a private company limited by shares, and a wholly owned subsidiary of Apel Group. It is one of the leading registrars in Nigeria, offering diverse services such as; primary market services, investor relations, employee share plan, dividend reinvestment plan, post primary market services, among others. Some of its notable clients include Chapel Hill Denham, Lasaco Assurance Plc, AIICO Balanced Fund, International Breweries Plc, NEM Insurance Plc, among others.



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.

Mutual Benefits Assurance Plc set to hold 25th General Meeting on July 29.

The Board of Mutual Benefits Assurance Plc has announced that it will be hosting its 25th Annual General Meeting on the 29th of July, 2021.

According to a notice issued and signed by the company’s secretary, Jide Ibitayo, the meeting will be held at Radisson Hotel, GRA Ikeja-Lagos by 10:00am on the aforementioned date.

Some of the key issues that will be discussed include;

  • 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.

What you should know:

  • Mutual Benefits Assurance Plc had earlier reported a profit after tax of N5.11 billion in FY 2020, indicating an increase of about 41% when compared with FY 2019 figures.
  • In line with CAC guidelines, attendance at the AGM will be by proxy. Sequel to this, a list comprising of six (6) representatives authorized to represent shareholders, have been made available.
  • Register of Members will be closed from 19th-23rd of July, 2021 to enable the Registrar prepare for the Annual General Meeting.
  • The link for the Annual General Meeting will be made available on the company’s website:


For more information about the AGM, click HERE.



 Mutual Benefits Assurance Plc reports loss after tax of N1.97 billion in Q1 2021.

Mutual Benefits Assurance Plc released its unaudited interim results for the first quarter of the year (Q1, 2021).

  • Net premium income was N5.45 billion. (+27.1% YoY)
  • Net benefits and claims of N1.35 billion. (+70.5% YoY)
  • Underwriting profit was N3.17 billion. (+23.9% YoY)
  • Loss after tax was N1.97 billion. (-312% YoY)
  • Loss per share of 19 kobo. (-311% YoY).
  • Total shareholders fund for the period was N21.4 billion

See link to results.

Mutual Benefits Assurance Plc grows profit by 41% to N5.11 billion in FY 2020.

Mutual Benefits Assurance Plc released its full-year results for the year ended 31st of December, 2020.

  • Net premium income was N16.08 billion. (+5% YoY)
  • Net benefits and claims of N7.9 billion. (+35% YoY)
  • Underwriting profit was N3.7 billion. (-32% YoY)
  • Profit for the year was N5.11 billion. (+41% YoY)
  • Earnings per share of 46 kobo Vs 36 kobo YoY.
  • Total shareholders’ fund was N23.35 billion. (+74% YoY)
  • No dividend announcement was made.

See link to results.