Regency Alliance Insurance Plc has projected a massive rise in its Profit Before Tax (PBT) to N237.2 million in the first quarter of 2020 (Q1 2021), indicating a 1,547.9% increase from the figure recorded in Q3 2020.
This is according to the firm’s recent earnings forecast sent to the Nigerian Stock Exchange market, as seen by Nairametrics.
Key highlights of the earnings forecast for Q1 2021
- Profit After Tax (PAT) is predicted to rise to N203.99 million, +323.8% Q-o-Q.
- Net premium income is projected to increase to N1.32 billion, +9.5% Q-o-Q.
- Investment income is projected to decrease to N85.95 million, -9.9% Q-o-Q.
- Underwriting expenses is projected to decline to N464.21 million, -60% Q-o-Q.
- Gross premium earned is predicted to increase to N2.09 billion, +57.5% Q-o-Q.
- Taxation is projected at N33.21 million
- Net cash generated from operating activities is projected at N228.94 million
- Net claims is projected at N461.9 million
- Net operating income is projected at N940.7 million
- Commission is projected at N239.3 million
What you should know
Regency Alliance Insurance Plc is an insurance company based in Lagos, Nigeria. It is licensed to cover all classes of non-life insurance with business interests in property investments, finance leasing, retail and microfinance banking, vehicle tracking and fleet management services.
Nairametrics had earlier reported that Regency Alliance Insurance Plc forecast N730.72 million profit for Q4 2020.