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Chuks Udo Okonta
Coronation Life Assurance Limited, said it posted N4.07 billion Gross Premium Written (GPW) in 2022, as against N3.47 billion recorded in 2021.
The underwriting firm disclosed this in its financial statement for the year ended December 31, 2022, made available to Inspenonline.
Managing Director of the company, Akinlolu Akinyele, submitted that the firm incurred claims expenses amounting to N957.12 million, as against N2.04 billion paid in 2021.
He said the gross premium income stood at N3.37 billion; net premium income N2.59 billion and net underwriting income N2.72 billion.
According to him, the underwriting profit was N2.21 billion; net income N3.52 billion; management expensed N1.92 billion; profit before tax N1.38 billion; profit for the year N1.37 billion and total assets N13.72 billion.
