• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Wednesday, July 2, 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

SUNU Assurances Nigeria Raises Shareholders With 3k Dividend, Pays N1.47bn Claims

Nwanne Ikemefune by Nwanne Ikemefune
June 16, 2023
in Insurance
0 0
0
SUNU Assurances Nigeria Raises Shareholders With 3k Dividend, Pays N1.47bn Claims

From Left: Executive Director, SUNU Assurances Plc, Mr. Adeleke Hassan; Independent Non-Executive Director, Mrs. Olajumoke Bakare; Managing Director/CEO, Mr. Samuel Ogbodu; Chairman, Mr. Kyari Bukar; Company Secretary, Taiwo Kuku; Independent Non-Executive Director, Hajia Taizir Ajala; and Independent Non-Executive Director, Hajia Aisha Abubakar during the firm's Annual General Meeting (AGM) held in Lagos.

0
SHARES
69
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

SUNU Assurances Nigeria Plc has delighted its shareholders with a 3Kobo dividend per share of 50k ordinary share of the company.

The Chairman of the underwriting firm, Kyari Bukar who announced the dividend payment at the firm’s Annual General Meeting (AGM) held in Lagos, stated that the dividend was paid in view of the impressive results, recorded by the company.

He noted that the firm’s Gross Written Premium (GWP) increased to N5.77 bn in 2022 from N4.87 bn in 2021, adding that this represents a growth of N903 million in value and 18.5 per cent in percentage terms while 94.5 per cent of the full year budget of N6.11 bn was achieved due to adverse impact of macroeconomic pressures in the country.

He said the claims paid reduced from N2.07 bn in 2021 to N1.47 bn in 2022 by 28.8 per cent which represented 93.1 per cent of the paid claims budget for the year, stating that this was due to favorable claims experience during the year considering the non-occurring nature of the End-SARS violence.

Bukar noted that the net claims expenses increased by 41.4 per cent to N1.21 bn in 2022 from N859 million in 2021, which was an overshoot of N261 million above N953 million budgeted for the year.

He submitted that environmental risks (Flood), fidelity guarantee, goods in transit and motor claims affected the performance adversely.

The underwriting profit, he said was N1.49 billion which represents 77.2 per cent of N1.93 bn budget for the year and that the profit increased by 0.6 per cent from N1.48 bn in 2021.

According to him, the company’s profit after tax for the year was N330 million which reflects an underperformance of the year’s budget of N399 million, but outperformed the N127 million profit made in 2021.

The chairman maintained that the board would continually articulate, implement and review the adequacy and effectiveness of the risk management and internal control system in line with Nigerian Code on Corporate Governance (“NCCG”) to manage its risks and opportunities and promote meaningful engagement with its stakeholders.

The managing director, SUNU Assurances, Samuel Ogbodu on his part appreciated the company’s valued shareholders for their continuous supports.
He added the company has put in place strategic plans to ensure growth while it pays more dividends in the next financial year.

Previous Post

NAICOM, AMMC Forge Stop Insurance Avoidance For Abuja Developers And Occupiers

Next Post

Arctic Melt Clears Way For Clashes Over Trading Routes

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates
Insurance

Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

July 1, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future
Insurance

Nigeria’s Future Gets Insurers Paramount Appeal, Flaunt Bourgeoning Effectiveness And Reliability

June 30, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future
Insurance

Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

July 1, 2025
Next Post
Arctic Melt Clears Way For Clashes Over Trading Routes

Arctic Melt Clears Way For Clashes Over Trading Routes

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
Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

July 1, 2025
Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

July 1, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Nigeria’s Future Gets Insurers Paramount Appeal, Flaunt Bourgeoning Effectiveness And Reliability

June 30, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

July 1, 2025
Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

June 30, 2025
Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

June 26, 2025
Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

June 25, 2025
The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

June 23, 2025
SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

June 23, 2025
Tech Innovator, Per Lagerström Takes Centre Stage as Headline Speaker For IMT 4.0

Tech Innovator, Per Lagerström Takes Centre Stage as Headline Speaker For IMT 4.0

June 23, 2025
ADVERTISEMENT

Recent News

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

July 1, 2025
Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

July 1, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Nigeria’s Future Gets Insurers Paramount Appeal, Flaunt Bourgeoning Effectiveness And Reliability

June 30, 2025
Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

Image Spin: Insurance Market Takes The Veil Off, Projects All Risks Commitment, Necessity For Today And Future

July 1, 2025
Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

Insurers Improve Performance by 56%, Rake in N1.56tr in 2024, Commitment to Claimants Hit N622bn

June 30, 2025
Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

Prof. Bart Nnaji to Chair 2025 Oriental News Nigeria Summit

June 26, 2025
Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

Investment: Insurance Ace Leads, Downgrades Volatility Where Other Financial Systems Grapple, Holds Over $40tr Assets

June 25, 2025
The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

The Gambia Central Bank Studies NAICOM Regulation For Insurance Regulatory Upgrade

June 23, 2025
SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

SanlamAllianz Flags Off 12-City Roadshow to Deepen Customer Engagement And Awareness

June 23, 2025
Tech Innovator, Per Lagerström Takes Centre Stage as Headline Speaker For IMT 4.0

Tech Innovator, Per Lagerström Takes Centre Stage as Headline Speaker For IMT 4.0

June 23, 2025
Preferred PenCom Logo

Pension System Undulating Highs And Lows Creates Open Challenges

June 23, 2025
Generative AI Sweeping Reliance Destructive Without Human Oversight – NGX Chairman

Generative AI Sweeping Reliance Destructive Without Human Oversight – NGX Chairman

June 28, 2025
Public Servants Welfare Capacity Enhanced With Workshop on Group Life Assurance Policy

Public Servants Welfare Capacity Enhanced With Workshop on Group Life Assurance Policy

June 19, 2025
CPS Non-Compliance, PenCom Urges Newspaper Owners to Clear N720m Pension Debt

CPS Non-Compliance, PenCom Urges Newspaper Owners to Clear N720m Pension Debt

June 18, 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

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award

July 1, 2025
Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

Image Spin: Insurance Professionals Spills Insurance Potentials to Secondary Schools And Undergraduates

July 1, 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