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%.