SUNU Assurances Announces N313m Profit thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Adepeju Adenuga Published 7 August 2021The total claims paid by sixteen insurance companies in the country rose by 36.48 per cent in the first half of this year from N49.18bn in the same period of 2020.An analysis of data collated by our correspondent from the companies’ unaudited financial statements showed that they paid policyholders N67.12bn in claims in H1 2021.The PUNCH had reported in July that the Commissioner for Insurance, Mr Sunday.
SUNU Assurances Announces N313m Profit thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
SUNU Assurance private placement records 100% subscription
On
Sunu Assurances Nigeria Plc has announced a 100 percent subscription for its private placement exercise.
Disclosing this in a statement, Managing Director of the company, Mr. Samuel Ogbodu said that the private placement exercise of 3,010,800,000 ordinary shares of 50 kobo each at N1.00 per share, with respect to the Private Placement Memorandum dated Monday, January 4, 2021 has been successful.
He stated that a total of two applications for 3,010,800,000 ordinary shares were received in connection with the private placement.
He said the two applications for 3,010,800,000 ordinary shares were found to be valid, accepted and processed accordingly.
He noted that the Securities & Exchange Commission has cleared the basis of allotment, adding that the Central Securities Clearing System (CSCS) accounts of successful allotees will be credited with shares allotted not later than February 12, 2021 by the registrars to the i
Punch Newspapers
Sections
The insurance sector’s assets rose by N410bn in one year as the industry attracted new investors;
NIKE POPOOLA
reports
Despite the impact of COVID-19 pandemic on the economy, the insurance industry attracted some investments that boosted its assets, investigation has shown.
Many of the underwriting firms started sourcing for foreign investors to bring in new capital since the National Insurance Commission ordered the firms to beef up their capital requirements in 2019.
Figures obtained from the Central Bank of Nigeria’s report on ‘Insurance sector (general and life) consolidated balance sheet’ revealed that the industry’s asset rose by N410bn from N1.41tn as of the end of third quarter of 2019 to N1.82tn as of the end of third quarter of 2020.