BY NKECHI NAECHE-ESEZOBOR–Coronation Life Assurance Limited has released its financial statement for the year ended 31, December 2022 with underwriting profit appreciating to N2.206 billion.
The insurer made this known in its audited financial statement for the year ended 31, December 2022 signed by Abiodun Akinusi and made available to BusinessToday Online, that it’s underwriting profit grow from N223,767 million in 2021 to N2.206 billion in 2022.
Gross premium written appreciated by 8.19 percent to N4.065billion in 2022 from N3.757 billion achieved in 2021, while total assets rose to N13.716billion from N12.287 billion in 2021.
Gross Premium Income (GPI) stood at N3.369 billion in 2022 while net premium income was N2.591 billion in the year under review.
Profit before tax went up from a loss position of N695,856 million reported in 2021 to profit of N1.385 billion in 2022.
The company’s profit for the year also rose to N1.365 billion in 2022 when compared to loss of N702,020 million reported in the same period of 2021.
