Insurance World

Coronation Insurance Settles N7.311billion Claims To Policyholders  FY21

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.

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