Guinea Insurance Records N907m Gross Premium

By Nse Anthony-Uko

(Sundiata Finance) — Guinea Insurance Plc recorded N907 million Gross Written Premium (GWP) in its 2016 financial statement as against N870 million it reported in 2015, representing 4.18 percentage growth.

The Executive Director, Finance and Administration of the company, Pius Edobor, in a statement on Wednesday added that the firm’s Shareholders’ Fund in 2016 was 2.897billion and N2.899billion in 2015, representing a marginal drop of 0.08 per cent. Profit Before Tax margin of the insurer, he said, grew by 194.64 per cent from N46.9million in 2015 to N138million in 2016.

Profit After Tax, he stressed, grew by 134.87 per cent from N7.2million loss experienced in 2015 to N2.5millon profit recorded in 2016. He added that the company successfully overcame the challenge of solvency margin during the year as its solvency margin stood at N3.014 billion in 2016 as against the previous year 2015 when the solvency margin was N2.98 billion.

Stating that the company was well–positioned to take advantage of the competitive terrain as it continued to progress on the directions and efforts of its board, management and staff, he pointed out that his firm is alive to its responsibilities of consolidating and strategically growing market share through decisive long-term investments and customer engagement initiatives.

“Customer satisfaction is the pivot of our Company’s achievements and this, inevitably builds brand loyalty. We are a formidable team destined for greatness and propelled by a Board of Directors and Management team that keep the faith that there are no limits, there are only plateaus and we will continually strive to remain on the path of profitability and growth,” he promised.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143

Washington Office: 1245 Delafield PI NE, Washington DC 20017, USA.
Tel: 0092404216156

https://twitter.com/sundiatapost/
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate