Linkage Assurance Plc has promised its shareholders stronger performance and increased returns on investment despite environmental challenges.
According to a statement, Linkage Assurance gave the assurance at its 29th annual general meeting in Lagos.
Chief Joshua Fumudoh, the Chairman of the Company, while speaking at the AGM, said the company was able to grow the gross premium written by 16 per cent to N12.9 billion in 2022 as against N11.2 billion in 2021.
He stated that the company was able to effectively manage its risks during the review year, posting an underwriting profit of N506m, a growth of 120 per cent when compared to the loss of N2.58 billion in 2021.
Linkage Assurance also strengthened its bottom line with a profit before tax of N2.7 billion, and profit after tax of N2.57 billion.
The Chairman Emeritus of the Independent Shareholders Association of Nigeria, Sunny Nwosu, speaking at the meeting, commended the board and management for clearing the negative earnings brought by EndSARS claims, which resulted in the loss of position in 2021.