Home Business Insurance World Regency Alliance Forecast 32.75% Jump In Profit Q4 2020
Insurance World

Regency Alliance Forecast 32.75% Jump In Profit Q4 2020

Share
Share

BY NKECHI NAECHE-ESEZOBOR--Regency Alliance Insurance Plc, has projected a growth of N730.72 million in profit after tax for fourth quarter (Q4) 2020.

The company disclosed this when it released its earnings forecast for Q4 2020 to the Nigerian Stock Exchange(NSE) that its PAT is expected to grow from N550.46 million in Q2 2020 to N730.72 million for Q4, 2020 despite is yet to release its Q3 2020 financials.

The insurer also projected that its Profit before tax is expected to stand at N859.67 million from N670.11 million recorded in Q2 2020, indicating a growth of 28.3% In Q4, 2020.

Other forecast for Q4 2020 by the company include; N4.28 billion for Gross premium earned, N2.82 billion for Net premium, N855.9 million for Net claims incurred, N928.65 million for Underwriting/Management Expenses, and N487.3 million for Net cash generated from operating activities.

The company further projected a taxation growth of N128.95 million from N119.65million reported in Q2, this indicating an increase of 7.8%.

Share

Businesstoday Magazine

Businesstoday Conference/Awards

Related Articles

NAICOM, NDPC Sign MoU To Safeguard Data Of Policyholders

NKECHI NAECHE-ESEZOBOR-The National Insurance Commission, (NAICOM) and the Nigeria Data Protection Commission,...

NAICOM, CIIN Tell Insurance Firms Directors To Uphold GRC Principles For Industry Sustainability

BY NKECHI NAECHE- ESEZOBOR–The National Insurance Commission, (NAICOM), has urged directors in...

Non Settlement Of Claims Is A Ground For Cancellation Of License- NAICOM

BY NKECHI NAECHE- ESEZOBOR–The National Insurance Commission on Wednesday told insurance directors...

Onifade Calls For AI Innovation To Drive Insurance Growth At WAICA Conference In Accra

Niyi Onifade, Sector Head of Heirs Insurance Group, has called for the...