BY NKECHI NAECHE-ESEZOBOR–Cornerstone Insurance Plc has released its consolidated and separate statement of profit or loss and other comprehensive income for the period ended 31 March 2021 with Profit for the year increasing by 38.52%.
According to statement made available to BusinessTodsy news portal the insurer grew is profit to N658.151 million Q1 2021 as against N475.117 million in Q1 2020.
The notice further shows that the insurer was able to grow is gross premium written to N5.824 billion in Q1 2021 from N4.575 billion reported in Q1 2020.
The insurer had has released its annual report for the year ended 31 December 2020 with 34% growth in gross premium written.
Gross premium written grew to N17.539 billion from N13.059 billion in 2019.
The company’s profit for the year stood at N2.195 billion.
