• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Saturday, June 14, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Sovereign Trust Leaps Over Vicissitudes Clutching N10.8b GPW

Nwanne Ikemefune by Nwanne Ikemefune
January 31, 2021
in Insurance
0 0
0
STI Brand
0
SHARES
68
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Sovereign Trust Insurance Plc, set an enduring path in the midst of the avalanche of challenges and closed the 2019 performance with gross premium written figure of N10.8bn, representing a 3% increase over the N10.5bn recorded in 2018.

The net premium income equally grew by 18% to land at N5.9b, over the sum of N5b recorded in the corresponding year. According to the company, the performance was guided by an enduring and comprehensive growth strategy which forms the bedrock upon which the company is built.

The company’s further performance showed that a profit after tax of N819m was secured, as against N541m recorded the previous year, representing over 52% increase. Profit after tax was N503m, a 46% increase when compared with N344m recorded in 2018.

Consequently, the Return on Capital Employed (ROCE) recorded a positive performance of 9.2% as against 8% achieved in the corresponding year of 2018. Also, the investment income rose by 20.8% from N388m in 2019 to N469m in 2018.

The size and quality of the balance sheet equally improved as total assets rose from N11.3bn to N13.4bn, representing a 19% increase while earning per share improved by 42% from 4.13k to 5.86k.

The managing director/ chief executive officer, Mr. Olaotan Soyinka, attributed the performance to the commitment shown by every member of staff who he described as the drivers of the organisation, coupled with the fact that the company’s management is also dedicated to ensure that the company takes its place of pride in the industry.

He declares: “It is a statement of fact that we want to be a leading brand in the insurance industry providing top-notch and personalised services to all our teeming customers spread across the company with the support of our technology infrastructure.”

He reiterated that the 2019 performance was not fortuitous, “we worked towards it and today, we can confidently say that we will continue to better our performance as much as we can while placing serious premium on corporate governance and ethics of the business.”

Previous Post

Sovereign Trust Marshalls 25th AGM

Next Post

NAICOM Tells States To Nurture Insurance Penetration

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Ilori
Insurance

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week
Insurance

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria
Insurance

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
Next Post
John Kayode

NAICOM Tells States To Nurture Insurance Penetration

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025

How an Insurance Company is Using Entertainment to Promote Insurance Education in Africa

June 13, 2025
Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

June 12, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Supports Nigerian Pavilion at the London Design Biennale 2025

June 11, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

June 5, 2025
Premium Perspective: Insurers Earn Trust, Premium Spirals Up

Features of Insurance Make Insurance Rescue Made to Fit Obligation

June 2, 2025
Awards Drenched Leadway Pensure Exceeds Target, Records 25% Growth In 2023

Leadway Pensure Says Strategic, Early Informal Sector Inclusion Will Strengthen Pension Systems

May 30, 2025
AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

May 29, 2025
ADVERTISEMENT

Recent News

Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025

How an Insurance Company is Using Entertainment to Promote Insurance Education in Africa

June 13, 2025
Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

Image Spin: Insurers Committee Revolving Meeting Concludes The 18th in Lagos

June 12, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Supports Nigerian Pavilion at the London Design Biennale 2025

June 11, 2025
Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

Sanlam and Allianz, Beacons of Global & Continental Insurance Merge to Enhance Operations in Nigeria

June 10, 2025
“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

“Bring Your Kid to Work Day” Lights up Prudential Zenith Life on Children’s Day

June 5, 2025
Premium Perspective: Insurers Earn Trust, Premium Spirals Up

Features of Insurance Make Insurance Rescue Made to Fit Obligation

June 2, 2025
Awards Drenched Leadway Pensure Exceeds Target, Records 25% Growth In 2023

Leadway Pensure Says Strategic, Early Informal Sector Inclusion Will Strengthen Pension Systems

May 30, 2025
AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

AIICO Insurance Showers Joy and Hope on Visually Impaired Children on Children’s Day

May 29, 2025
PenOp Upgrades Appoints New Chief Operating Officer

PenOp Upgrades Appoints New Chief Operating Officer

May 28, 2025
Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

May 28, 2025
Regulatory Reinforcements Keeps Insurance System Risks Low, Safe From Sinking Platforms of Financial Institutions

Regulatory Reinforcements Keeps Insurance System Risks Low, Safe From Sinking Platforms of Financial Institutions

May 28, 2025
Leadway Advocates Safety First as Nigerians Embrace The New Year

Leadway Group Rolls Out Third Edition of ‘Pages to Places’ Initiative Targets 10,000 Children

May 29, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Ilori

Maiden Insurance Week Adopts Wide Angle Lens to Capture All For Insurance

June 14, 2025
CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

CAMCONIA Sprints With Full Vigour For Maiden Insurance Week

June 13, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In