Home Business Insurance World Mutual Benefits Grows Profit By 104.5% In Q4 2020, As Profit For FY2020 Rose To N4.548b
Insurance World

Mutual Benefits Grows Profit By 104.5% In Q4 2020, As Profit For FY2020 Rose To N4.548b

Share
Share

BY NKECHI NAECHE-ESEZOBOR–Mutual Benefits Assurance Plc, at the weekend released its consolidated and separate statement of profit or loss for the year ended 31 December 2020 with an increase in profit after tax of N2.155 billion in Q4 from N1.054 billion in 2019.

According to the company it’s profit after tax appreciated strongly by 104.5% indicating it increased lower by 25.9% to N4.548 billion in full year from N3.612 billion in 2019.

The insurer’s gross premium written for the Q4 to N5.378 billion from N4.944 billion reported in Q4 2019.

The underwriter went further to grow its gross premium written for the full year from N18.698 billion in 2019 to N20.194 billion in the period under review.

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...