Home Business Insurance World Coronation Insurance Settles N7.311billion Claims To Policyholders  FY21
Insurance World

Coronation Insurance Settles N7.311billion Claims To Policyholders  FY21

Share
Olamide Olajolo, Managing Director of Coronation Insurance Plc
Share

Olamide Olajolo, MD/ CEO

BY NKECHI NAECHE-ESEZOBOR— Coronation Insurance Plc has released its audited financial statements for the year ended 31, December 2021 with a total of  N7.311 billion paid as claims to policyholders.

According to statement released by the company claims payment grew by 5.81% from N6,909 billion recorded in 2020 to N7,311billion reported in 2021. 

The statement added that net underwriting income grew slightly by 2.09% to N9.666 billion against N9.469 billion recorded in 2020.

Net premium income rose by 18.91 percent from N7,359billion achieved in 2020 to N8,751billion in the year under review.

The insurer’s total assets stood at N39.801 billion in 2021 from N39.723billion recorded in in 2020.

However, gross written premium for the full year dropped to N14.130 billion from N16.186 billion in 2020 while full year loss stood at N2.583 billion from N1.202b profit in 2020.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

AIICO Insurance Pays N234.4bn As Annuity In 8 years

AIICO Insurance Plc, Paid a total of N234.4 billion as Annuity to...

How Reliable And Comprehensive Data Can Transform Africa Insurance Industry- Dr. Awele Elumelu

Chairperson, Heirs Insurance Brokers & Avon Healthcare Limited, Dr. Awele Elumelu.  ...

AIWA Confab: Dr Elumelu Highlights, Digital Innovation, Microinsurance, PPP As Game Changer For Africa Insurance Industry

From left: President Africa Insurance Women Association, Lady Margaret Moore; Chairman Local...

Q3 2024: Veritas Kapital Assurance Post An Impressive 117% Growth In Profit After Tax

*As GPW Stands At ₦18.540bn Veritas Kapital Assurance Plc has announced a...