Benedict Ujoatuonu MD/ CEO Universal Insurance Plc
BY NKECHI NAECHE-ESEZOBOR– Universal Insurance Plc, a Nigeria’s leading insurance firm has released its fourth quarter account for the period ended 31 December 2022, with a gross premium written of N5.67 billion for the 12 months period, up by 53.06% from N3.7 billion reported in 2021.
According to notice filed to the Nigerian Exchange Group and signed by the managing Director/ CEO, Mr. Benedict Ujoatuonu, the company also said Profit before tax grew by 26.31 percent to N530.680million from N391.043 million reported in the previous year.
Total underwriting income of the company rose to N4.3 billion when compared to N2.8billion reported in the previous year, this indicating 51.9 percent growth.
Profit after tax was not left out as it appreciated from N376.97 million reported in 2021 to N525.32 million year on year, this indicating a growth 39.36%.
The insurer’s share price of 20 kobo while earnings per share for the period under review stood at 3 kobo.
