Insurance

Sovereign Trust Insurance grows profit by 14% in H1

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Onaolapo

 

Chuks Udo Okonta

Sovereign Trust Insurance Plc has said its pretax profit for the period ended June 30, 2015 grew by 14 per cent from N615.85 million achieved in same period of 2014 to N702.35 million in 2015. The company disclosed this in a report presented to the Nigerian Stock Exchange (NSE). It said post tax profit also went up to                N650.11 million for the half period ended June 30, 2015 when compared to N553.87 million recorded in 2014; this indicating an increase of 17.4 percent . The firm’s gross premium depreciated slightly in the H1 period of 2015 to stand at N4.57 billion when compared to N4.80 billion achieved in same period in 2014.

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