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AXA Mansard posts N25.08 billion growth in Gross Written Premium


According to the company, Net Premium Income of N8.34bn, up 2 percent from N8.21billion in the same year.
Investment and Other Income of N1.64 billion, down 32 percent from2.39 billion; Operating Expenses of N2.52bn, up 23% N2.05bn in March 2020, while profit before Tax of N2.92bn, up36% from N2.14bn recorded in March 2020 and profit after tax of N2.63 billion, up34 percent from N1.96bn in March 2020
Commenting on the results, the Chief Financial Officer,
Mrs. Ngozi Ola-Israel, said.
Our start to the year demonstrates the continued drive to deliver strong and sustainable results.
We delivered 34 percent growth in PAT and 90 percent improvement in underwriting performance despite the uncertainties in the current business environment. ....

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Sovereign Trust Insurance Plc Maintains A- Rating With GCR


For over a decade now, Sovereign Trust Insurance Plc has consistently maintained a confident A- rating with the international rating agency, Global Credit Rating, based in South Africa.
The Rating Agency’s recent solvency and operational report for financial institutions in Nigeria and other allied businesses released in December 2020 affirmed that Sovereign Trust Insurance Plc has great potentials for growth in the years ahead considering some of the strategies that have been put in place to propel its operations.
Global Credit Rating noted that the Company has shown a great deal of consistency in her claims-paying obligations to her numerous customers spread all over the country. ....

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