Gross Premium: Coronation Insurance Plc Records N14.13 Billion

For the financial year ended December 31, 2021, Coronation Insurance Plc said it has recorded N14.13 billion Gross Premium Written (GPW) 

Mutiu Sunmonu, the Chairman of the company, revealed this in a statement containing the group’s Audited Financial Result for the year 2021 sent to the Nigerian Exchange Ltd on Friday in Lagos.

According to Sunmonu, the figure is lower when compared with N16.1 billion posted in the comparative period of 2020.

He further revealed that the firm paid claims of N7.32 billion and generated a net underwriting income of N9.66 billion during the period under review.

Sunmonu said the firm recorded a total underwriting profit of N1.25 billion, its investment income stood at N1.51 billion while the firm’s total assets stood at N39.80 billion, share capital N11.99 billion, while the share premium was N4.61 billion.