Coronation Insurance Plc, performance for 2020 has been disclosed to investors, coming to town with group profit after tax rising by 460.9 percent
This is contained in its consolidated and separate financial statements for the year ended 31 December 2020 screened on the floor of Nigerian Exchange, that it’s group profit after tax rose from N214.327 million in 2019 to N1.20 bn in the year under review.
The notice added that the profit for only the company went up from a loss of N308.981 million in 2019 to profit of N215.492 million in 2020.
The company added that group gross written premium appreciated from N15.201 bn to N16.186 bn in 2020, while gross premium written by only the company rose to N11.63 bn from N10.70 bn achieved the previous year.
Total claims paid rose by 69.5 percent to N6.91 bn while underwriting profit rose slightly by 12.5 percent to N3.29 bn.