Companies
Updated: December 21, 2022

Jaiz Takaful Records 93 Per Cent Increase In Gross Premium

By Felicia Abisola Olamiji
December 21, 2022
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For the 2021 financial year, Jaiz Takaful Insurance Limited has recorded a gross premium contribution of N1.8 billion, representing a 93% increase from the N944 million recorded in 2020.

The company disclosed this in its Financial Report for 2021 approved by the board of directors during the Annual General Meeting (AGM) that was held virtually.

A consolidated claim of N301.983 million was also paid by the company in 2021, representing a 44% increase from N201.262 million paid in the previous year, 2020.

Profit After Tax (PAT) grew y 233% from N151 million in 2020 to N503 million in 2021.

Commenting on enablers for the company’s growing profitability in 2021, the Managing Director/CEO of Jaiz Takaful Limited, Alh. Ibrahim Usman Shehu said: “We have embraced ICT for easy accessibility of our Takaful products by customers.