Insurance World

Universal Insurance Grows Profit By 300.58% In Q1 2022

BY NKECHI NAECHE-ESEZOBOR–Nigeria’s lead underwriter, Universal Insurance Plc, has recorded 300.58% jump in profit after tax to N674.130 million from N168.29 million in Q1 2021.

The company released its first quarter management account for the period ended 31 March 2022 on the floor of Nigerian Exchange group ( NGX).

According to it’s filing gross premium written also went up to N2.334 billion from N1.581 billion in Q1 2021

The company is commitment in ensuring that investors receives returns on their investment .

The insurer attributed the growth to the firm’s investment in retail line of business, especially with its retail products such as Okada pass, Unipersonal cover, parcel vuide, keke pass, among others.

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