Insurance World

Capital Express Grows Profit By 34% To N90.68million FY21

BY NKECHI NAECHE-ESEZOBOR— Capital Express Assurances Limited, on Friday said it’s Profit for the year grew by 34 percent to N90.68million in the financial year ended December 2021 from the N67.88 million recorded in 2020.

The result in 2021, which was recovery year from COVID 19– follows with a profit before tax growth of 32 percent from N69,567million recorded in 2020  to N91,549 million in same period of 2021.

From Right: Group Managing Director/ CEO NEM Insurance Plc, Mr. Tope Smart and another shareholder at the event.

The chairman of the Company, Otunba Babatude Ademola Adenuga disclosed this at the 21st Annual general meeting ( AGM) held today in Victoria Island, Lagos that total assets rose to N12.858 billion from N11.95billion recorded in 2020, indicating right percent growth.

He added that total equity of the company was not left out in its outstanding performance as it rose  by 16.6 percent from N5.37 billion to N6.26billion respectively in 2020 and 2021.

On future outlook, he said “We made major strides in our push to deploy technology and accelerate towards digitalization in 202, as we aligned with global trends to increase our customer centric culture, with goal of offering services seamlessly. We are recording appreciatiable progress in Fintech adventure, as seen by the significant progress we have achieved in our  digital transformation.

“As of today, I can confirm to you that our  Mobile App is available for existing customers to access their policy information and engage with us further. New clients could also subscribe to any of our products through this platform. Our website today carries a new and improved look. It is customer friendly and interactive.”

He thanked customers and stakeholders for preferring Capital Express as their trusted partner, noting that they will continue to inspire them with enhanced value creation.







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