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Chuks Udo Okonta
Coronation Insurance Plc posted a Gross Premium Written (GPW) of N11.07 billion as at third quarter of 2021, its Chairman, Mutiu Sunmonu, has said.
He disclosed this in a consolidated statements of financial position as at September 2021 made available to Inspenonline, adding that the firm paid claims amounting to N4.17 billion within the period.
According to him, the company generated a gross premium income of N10.37 billion, net premium income of N6.63 billion and the net underwriting income stood at N7.29 billion.
Sunmonu maintained that the firm recorded a total underwriting profit of N1.09 billion, while the investment income stood at N1.33 billion and the share capital was N11.99 billion.
According to him, the share premium was N4.61 billion; contingency reserves N3.58 billion and retained earnings N1.94 biliion.
