BY NKECHI NAECHE- ESEZOBOR–Veritas Kapital Assurance Plc said its Gross Written Premium (GWP), appreciated by 330% in the first half of 2024.
Dr Adaobi Nwakuche, Managing Director, Veritas Kapital, disclosed this during an interaction with the media that the company’s GWP rose from N2.921 billion (H1) first half of 2023 to N12.574 billion in the ( H1) first half of 2024, this representing 330% increase.
Profit After Tax of the company also rose to N4.91 billion when compared to N672.4 million reported in 2023.
The group’s total assets rose from N24.641 billion in third quarter 2023 to N34.828 billion in the 2024, indicating 41 percent growth.
Shareholders’ funds went up by 32 percent to N21.553 billion in half year 2024 as against
N16.369 billion achieved in the same period, representing 32 percent increase.
Veritas Kapital was registered as a General
Business Company and this move was ratified and approved by the National Insurance Commission(NAICOM) and offers non-life
(General) insurance products and services
to individuals and institutions across Nigeria
which covers the protection of customers
assets and indemnify cation of the other
parties that have suffered damages as a result of customer’s accident.
Veritas business is driven by up-to-the-minute
technology; managed by accomplished
professionals; and led by a vibrant and re
resourceful board of directors.
