Veritas Kapital Assurance Plc, on Monday, said that its group’s total assets increased by 21 per cent to N21.4 billion in the first half of the year.
The Managing Director of Veritas Kapital Assurance Plc., in a statement made available in Lagos, stated that there was a surge in total assets by N3.75 billion in the period under review, reflecting a remarkable increase.
He further stated that the insurer’s group shareholders’ value recorded a significant increase of N0.97 billion in the shareholders’ funds, to reach N13.5 billion in the period.
According to him, the group’s net insurance and investment result experienced an impressive growth of 679 per cent, compared to the same period in the previous year to further solidify its position as a key player in the industry.
He also stated that the group’s Profit After Tax (PAT) indicated an unprecedented growth of 740 per cent, compared to the same period last year.
He attributed the remarkable results to the company’s strategic and prudent investment decisions.
“This outstanding achievement highlights the group’s robust financial strategies, steadfast commitment to excellence, and unwavering dedication to creating value for its stakeholders.
“The financial result for Q2 2023 has been exceptional for Veritas Kapital Assurance and underscores its position as a frontrunner in the insurance sector. The result is a testament to the company’s relentless pursuit of excellence and its commitment to delivering a seamless and customer-centric experience to its clients,” he said.
According to Mr. Egbaran the insurance firm remains steadfast in its mission to be one of the leading insurance companies in Nigeria.
He noted that the company would continuously deliver exceptional value to its shareholders, clients and partners. partners.
He further explained that the company’s relentless pursuit of growth and innovation has led to substantial financial gains.
He further explained that the relentless pursuit has also solidified the insurer’s reputation as a trusted partner for individuals and businesses seeking bespoke insurance solutions.
