• Business - Companies
  • Updated: June 21, 2022

Prestige Assurance Plans To Achieve N10.5 Billion Gross Premium In Q3 2022

Prestige Assurance Plans To Achieve N10.5 Billion Gross Prem

For the third quarter ending September 2022, Prestige Assurance Plc. has planned to projected to achieve N10.5 billion gross premium

According to the company's  Profit and Loss Accounts information for the Q3 earnings obtained from the Nigerian Exchange Limited (NGX), the insurance firm also projected N1.520 billion as profit after tax and N1.064 billion as profit before tax for the period.

The management of Prestige Assurance in a statement said, “The profit forecast is based on the following assumptions: that there will be no serious Government restrictions on trade that will affect the insurance business; the company will not suffer any major catastrophe which will necessitate liquidation of investment portfolio for claims payment; there will not be any considerable reduction in the level of interest rate; the capital market activities will improve significantly from the bearish position to the bullish; the country’s political climate shall be stable for carrying out business activities across the nation; the company will continue to deal with its present range of insurance policies”.

Others include that “the company will enhance its present treaty arrangement due to increase in shareholders fund; the accounting policies will not change; the basis of taxation will not change materially; the company would maintain its present workforce and additional hands will be employed to take care of increased business activities. and there will be vigorous effort to improve upon the present market share”.

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