For the 2021 financial period, Sovereign Trust Insurance Plc has revealed that it has recorded a 14.4% increase in its gross premium.
This was revealed by Segun Bankole, the Head, Corporate Communications and Investor Relations, STI, in a statement on its upcoming annual general meeting in Lagos.
“Despite the wavering business environment in 2021, the company recorded gross premium written of N12.7 billion over N11.1 billion recorded in 2020 representing a 14.4 per cent increase,” he said.
Having been granted approvals for its 2021 annual report and accounts by the National Insurance Commission and the Nigerian Exchange Limited, he said it was set to hold its annual general meeting in Lagos.
“However, in line with the Federal Government and Lagos State directives on the restriction of gatherings of a large number in curbing the spread of the COVID-19 pandemic, majority of the shareholders will be participating at this year’s annual general meeting of the underwriting firm online via a link on the company’s website with the exception of the approved proxies of the shareholders
“The company, no doubt, showed great resilience amidst the various challenges that characterised the operating environment in the year 2021,” he said.
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