• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Monday, July 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 News

Mutual Benefits Improves Profit, GPI In 2019

mutual benefits improves profit and gpi

Head IT, Old Mutual, Mary Awotetan, Executive Head, Marketing & Customer Experience, Alero Ladipo, Director Public Private Partnerships, Lagos State Ministry of Education, Dr Olufunke Oyetola and St Francis Junior Grammar School Student, Gbenga Adeosun, during Old Mutual's presentation of remote learning aid materials to students in Lagos

0
SHARES
84
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Mutual Benefits Assurance Plc has recorded a growth of 172% in its profit before tax for the 2019 business operations.

The company’s PBT rose from N1.4b in 2018 to N3.8b in 2019, while profit after tax increased by 214% from N1.1b to N3.6b.

RelatedPosts

NAICOM Condoles on Buhari Passing, Notes His Tenure’ Commitment to Insurance Development

Universal Insurance, NHIA, PTAD, Rite Foods, Sponsor NAIPE 2025 AGM

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

The general performance showed that the gross written premium recorded a growth of 18% from N15.8b to N18.7b. This was disclosed by group chairman, Dr Akin Ogunbiyi, during the 24th AGM meeting held virtual penultimate day in July.

Ogunbiyi said the performance was driven by 41% growth in its life business, from N6.1b to N8.5b. Also, total assets grew by 14% from N59.4b to N67.8b. Total equity increased by 60% from N9.1b to N14.5b. Its non-life business experienced a modest growth of 4% from N9.8b to N10.2b.

In the year under review, an improved underwriting process resulted in a 13% decline in net claims expense, from N7.0b to N5.9b. The decline in net claims benefits resulted in an increase in underwriting profits by 77% from N3.1b to N5.4b. Improvement in top line performance, disciplined cost culture and rewarding investment activities ensured improved profitability in 2019.

On recapitalization, he said “after the successful recapitalization of our life subsidiary, we are taking active steps to complete the recapitalization of the parent company before the stipulated deadline. We want to assure our shareholders that this is at the forefront of our plans and we are working towards achieving it before the end of the year.

Previous Post

Buhari Appoints Deputy Commissioners

Next Post

FG Fulfills Group Life Premium Obligation

Nwanne Ikemefune

Nwanne Ikemefune

Related Posts

NAICOM logo
News

NAICOM Condoles on Buhari Passing, Notes His Tenure’ Commitment to Insurance Development

July 14, 2025
Fola Daniel To Chair NAIPE Conference Set For October 8th
News

Universal Insurance, NHIA, PTAD, Rite Foods, Sponsor NAIPE 2025 AGM

July 3, 2025
Leadway Health HMO Establishes a Trend With Third Straight HMO of the Year Award
News

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

July 1, 2025
Next Post
ncrib

FG Fulfills Group Life Premium Obligation

Please login to join discussion
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

NAICOM logo

NAICOM Condoles on Buhari Passing, Notes His Tenure’ Commitment to Insurance Development

July 14, 2025
Financial Inclusion, 150 Informal Workers Financial Literacy Upgraded by Heirs Insurance 

Heirs Insurance Group Revenue Leap by 70%, Sealing N61bn And Paid N10.4bn Claims, 149% More in 2024

July 14, 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