Linkage Assurance Plc set to pay dividend to shareholders

The Chairman of Linkage Assurance Plc, Joshua Bernard Fumudoh has disclosed that shareholders of the company will get dividend payment of five kobo per share for the 2017 financial year.

Fumudoh who announced it at the 24th Annual General Meeting of the insurance firm said Linkage Assurance Plc recorded a gross premium written of N4.1 billion as against N4.03 billion in 2016.

The Chairman added that profit before tax rose by 218 percent to N2.9 billion from N942.7 million, while profit after tax also appreciated by 431 percent to N2.9 billion in 2017. This is as total assets appreciated by 15 percent to N23.3 billion in 2017, from N20.3 billion in the previous year.

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Fumudoh further revealed that the company was determined to take advantage of developments in the economy by developing strategic initiatives such as deployment of online portal for selling of motor insurance, as well as repositioning its bouquet of retail products like the Third Party Plus (a budget friendly motor insurance plan) to ensure sustainable growth for the company in 2018 and beyond.

In its half-year 2018 results for the period ended June 2018, Linkage Assurance Plc recorded a gross premium income of N2.49 billion in 2018 as against N2.06 billion in the same period in 2017, which shows an increase of N436 million.

Profit before tax, however, dropped from N2.44 billion in H1 2017 to N750 million in 2018. In the same vein, profit after tax slipped from N2.29 billion in H1 2017 to N493 million in 2018. The company reported an earning per share of 6.2 kobo in this period, compared to 28.7 declared in 2017.

As at Friday, 31st of August, 2018, Linkage Assurance Plc traded at N0.75 during trading session on the floor of the Nigerian Stock Exchange (NSE).

Linkage assurance Plc was incorporated on March 26, 1991 and was licensed to cover and transact non-life insurance businesses on October 7, 1993.

The firm is one of the leading insurance service providers in Nigeria, with a reputation for prompt and accurate service delivery, efficiency and customer satisfaction.