NSIA Insurance Limited, showed more strength to accommodate risks, by earning gross premium of N9.19b.
The net premium income improved by 25 per cent from N3.16b to N5.6b.
The streak of good performance was seen in profit after tax improving by 65 per cent from N670.45m to N781.87m while earnings per share rose by 75 per cent from 7k to 9k.
Proving its business in insurance is paying claims, its obligation to policyholders was N2.87b, a jump of 25.8 per cent on previous N2.28b.
The insurers total assets increased by 8.4 per cent from N17.92b to N19.43b. Shareholders fund also grew from N10.9b to N11.84b, recording 8.7 per cent growth.
Chairman Ituah Ighodalo, said “NSIA Insurance had made good its promise of maximising the returns of its shareholders investment in the business, lending credence to the company’s values of the company’s values of integrity, care, innovation and professionalism.”
The managing director/chief executive, Ebelechukwu Nwachukwu, “We are pleased to have met the set goals for the financial year of 2019 and we expect to significantly grow our income for better competitive edge. We look forward to growing capacity by 25% before the end of 2020 even as we plan for a 30% growth in 2021.”
She wraps it up: “Our primary objective is to continually grow our business, satisfy our customers and maximise return on investments for our stakeholders.”
