Insurance World

Niger Insurance Reduces Loss By N2.203billion In 2020 


BY NKECHI NAECHE-ESEZOBOR–Niger Insurance Plc, one of the oldest underwriting firm in the country, said it was able to cut loss by 49.76% from N4.384 billion in 2019 to N2.203 billion in 2020.

This is contained in its audited annual report and financial statements for the year ended 31 December 2020 presented on the floor of Nigerian Exchange Group  that it was able to grow it’s gross premium income from N903.050 million in 2019 to N1.289 billion in 2020; indicating 43% growth.

However, gross premium written declined by to N1.0 40 billion from N1.846 billion in 2019, representing 44% drop.

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