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Chuks Udo Okonta
Coronation Insurance Plc said it recorded N14.13 billion Gross Premium Written (GPW) in year 2021.
The Chairman of underwriting firm, Mutiu Sunmonu, said this in a statement sent to the Nigerian Exchange Limited and Shareholders on the Group’s Audited Financial Results for the Year 2021.
He noted that the Net Underwriting Income was N9.66 billion, adding that N7.31 billion was paid as claims.
Sunmonu submitted that the firm also recorded a total underwriting profit of N1.25 billion, while the investment income stood at N1.51 billion.
He said the firm’s total assets stood at N39.80 billion, adding that a share capital of N11.99 billion; share premium of N4.61 billion; contingency reserves, N3.66 billion; other reserves, N1.75 billion and total equity, N21.59 billion were recorded in the year.