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Guinea Insurance posts ₦967 million turnover for 2017

Fikayo Owoeye by Fikayo Owoeye
April 13, 2018
in Business News, Company News
Guinea Insurance appoints Babatunde Oshadiya as Managing Director.
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Guinea Insurance has released its financial statement for the full year ended December 31, 2017.

The result shows the gross premium grew to ₦967.1  million, as against ₦906.69 million recorded in 2016. Net premium also increased ₦747 million in the year under review from ₦649.5 million in 2016.

Profit before tax stood at ₦237.84 million in 2017, compared to ₦176.3 million in 2016. Profit after tax also increased to ₦251 million in 2017 from ₦40.6 million in 2016.

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The company was incorporated on 3rd December 1958 as a limited liability company and became a public liability company on January 17, 1991. The foreign shareholders divested their 40% shareholding to existing Nigerian shareholders in 1988.  Guinea insurance was listed on the Nigerian Stock Exchange on 17th January 1991.


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Tags: 2017 full year reportGuinea Insurance Plc
Fikayo Owoeye

Fikayo Owoeye

Fikayo has a degree in computer science with economics from Obafemi Awolowo University. ITIL v3 in IT service management. An alumnus of Daystar Leadership Academy. Prior to joining Nairametrics had stinct in Project management, Telecommunications among others. Also training in Consulting and Investment banking from Edubridge Academy. He has very keen interest in Politics, Agri-business, private equity and global economics. He loves travelling and watching football. You can contact him via fikayo.owoeye@nairametrics.com

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