BY NKECHI NAECHE-ESEZOBOR—The chairman of Linkage Assurance Plc, Mr. Fumudoh Joshua Bernard, has acquired 5.709million units of shares valued at N4.741million in the company.
This is contained in a notification of share dealing by an insider sent to Lagos Nigerian Exchange Limited and sighted by BusinessTodayNG, that the acquisition was sold at a unit cost of N0.80kobo and 0.98kobo respectively.
The breakdown shows that Fumudoh, Director of the company purchased 970,000 units share at 0.98 per unit share on August 30th, 2023, valued at N950,600.
Similarly, September 15th and September 25th he purchased 4,500,000 units of shares valued at N3.6million and 239,000 units of shares at N0.80kobo valued at N191,200 respectively, bring the total shares to 5.709million shares valued at N4.741million.
The notice which was signed by Company Secretary, Mr. Moses Omorogbe and was filled on the 25th of September, 2023.
With regards to financial performance, Linkage Assurance Plc, recorded an impressive growth with gross written premium (GWP) of N12.98 billion, as against N11.16 billion in 2021, a 16 percent increase.
Able to effectively manage its risks during the review year, the underwriting firm also recorded N506.162 million underwriting profit, a growth of 120 percent when compared with the figure in 2021.
The insurer also strengthened its bottom-line with Profit Before Tax (PBT) N2.696 billion, and Profit After Tax closing at N2.567 billion.
With full maximisation of its investment returns, Linkage Assurance saw income from investment boosting bottom-line stronger after a successful underwriting year.
Total assets at the end of the review year stood at N39.998 billion, a 3 percent increase from N38.710 billion in the previous year.
Linkage Assurance Plc engages in the non-life insurance business in Nigeria and is listed on the Nigerian Exchange Group ( NGX) since November 18th, 2003.
The underwriter is one of the most valuable stock on the NGX with a market capitalization of NGN 11.2 billion.
The insurer commenced today’s trading with a share price of 0.8NGN and and closed N0.80kobo. With the above transaction, investors confidence have been built once again by Linkage Assurance Plc.