Shareholders of NSIA Insurance have approved a dividend payment of 1.45k per share for the 2018 financial year.
The underwriting firm’s Total Revenue from operations increased by 27 per cent from N5.46 billion in 2017 to N6.91 billion in 2018 while Total Assets for the year ended 2018 increased by 15 per cent to N17.92 billion compared to N15.57 billion reported for the year ended December 31, 2017.
On the other hand, Profit Before Tax (PBT) improved significantly by 39 per cent to N892.29 million in 2018 from N640.75 million reported in 2017, while Profit After Tax (PAT) improved significantly by 67 per cent to N670.45 million in 2018 from N402.35 million reported in 2017.
The Gross Premium Income for the company increased by 16 per cent to N6.3 billion in 2018 from N5.48 billion reported in 2017, while the Net Premium Income improved by 25 per cent to N3.16 billion in 2018 from N2.54 billion reported for the year ended December 31, 2017.
There was also an improvement in the earnings per share with a 75 per cent jump to 7k in 2018 from 4k in 2017.
Addressing shareholders at the Annual General Meeting (AGM) of the company, its Chairman, Ituah Ighodalo said NSIA Insurance had made good its promise of maximising the returns of its shareholders’ investments in the business, lending credence to the company’s values of integrity, care, innovation and professionalism.