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Home Business News

Niger Insurance gross premium declines by 48%

Joseph Olaoluwa by Joseph Olaoluwa
September 24, 2019
in Business News, Company News, Company Results
Auditors Flag Niger Insurance Latest Results
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Niger Insurance Plc has recorded a reduction in its Gross Premium Written from N8.5 billion in 2017 to N4.4 billion as at the end of its financial year ended December 31, 2018. This represents a 48% reduction. 

This was revealed in a notification sent by the firm to the Nigerian Stock Exchange.  

[READ MORE: Insurance Companies shocked as NAICOM increases capital base by 200%]  

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Niger Insurance also recorded a shortfall in its Gross Premium income which fell by 29%, recording N5.2 billion in 2018 down from N7.3 billion recorded in 2017.  

Profit Before Tax: The company recorded a profit before tax of N661 million in 2018, compared to a loss before tax of N920 million in 2017.  

Profit After Tax: Similarly, the company recorded a profit after tax of N593 million in 2018, compared to a loss after tax of N978 million recorded during the same period in 2017.  

Earnings Per Share (EPS) stood at N7.67 in 2018 compared to a loss of N12.65 in 2017.   

 [READ FURTHER: Guinea Insurance boosts gross premium by 28.2% in 2018] 


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Tags: Niger Insurance PlcNigerian Stock Exchange
Joseph Olaoluwa

Joseph Olaoluwa

Reincarnated as a lover of stocks, Angel investors, seed funds, and anything aligned to tech or startups raising money, Joseph's work at Nairametrics involves following the money to wherever it leads. Before joining Nairametrics, he won an investigative journalism fellowship with ICIR, appeared in several national dallies, with hard-hitting opinions, features and investigative pieces. He has also engaged in content marketing and copywriting for a top e-commerce firm in Nigeria.

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