April 1, 2023



Guinea Insurance coverage holds AGM, data N1.35bn as gross premium

Guinea Insurance coverage PLC, has mentioned that regardless of the numerous difficulties and operational challenges encountered all year long, the corporate was in a position to climate the storm and proceed on the trail of progress.

In accordance with figures offered by the Chairman of the Board of Administrators of the corporate, Mr. Ugochukwu Godson, Gross Premium Written was N1.35 billion, representing a 24.8 per cent enhance over the N1.08 billion recorded in 2020. Gross Premium Earnings rose from N1.05 billion to N1.34 billion in 2021 representing a 27.4 per cent enhance.

The Web Claims Bills in 2021 was N0.48 billion which is a 69.1 per cent enchancment over the sum of N1.55 billion recorded in 2020. This was as a result of environment friendly claims administration.

The corporate did document a Loss earlier than Tax of N60 million. That is as towards N225 million recorded in 2020 representing over 73.3 per cent lower.

Loss after Tax additionally stood at N23 million, representing a big drop of 89.9 per cent lower when put next with the sum of N228 million recorded in 2020.

The shareholders agreed to extend issued and allotted share capital to 7,942,800,000 extraordinary shares of fifty Kobo every, efficient as of August 16, 2022.

The AGM was held each bodily and nearly.

The Chairman expressed his opinion on this regard, stating that the corporate was already on the comeback path to profitability as funds had been injected to strengthen its monetary base and enhance its capability for transacting large-scale enterprise offers.

He assured shareholders of the administration’s dedication to place the corporate as an investor’s delight whereas additionally propelling it to a worthwhile top for the monetary well-being of its shareholders.

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