Insurance World

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

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.

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