Q1 2018 Results: Continental Reinsurance Plc reports 51% increase in revenue

Continental Reinsurance Plc recently released its financial statements for the period ended Q1 March 31st 2018.

Here are the key highlights of the results;

Revenue

The company reported Gross written premium of ₦5.70 billion for the period ended March 2018 compared to ₦4.54 billion reported for the period ended March 2017. This represents a 26% increase for the comparative period in 2017.

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Profit Before Tax

Profit before tax was ₦720.9 million for the period ended March 2018, a 51% increase from the ₦476.8 million reported for the period ended March 2017.

Profit After tax

The company’s profit after tax for the period ended March 2018 ₦540.7 million compared to ₦357.6 million reported March 2017. This represented a 51% increase for the comparative period in 2017.

Earnings Per Share

Continental Reinsurance Plc also reported earnings per share of 5 kobo for the period ended March 2018 compared to 3 kobo reported for the period ended March 2017. This represents a 67% increase for the comparative period in 2017.