Linkage Assurance 2015 full year profit rose by 36%

Linkage Assurance said in its 2015 audited full year result that its net profit for the year rose by 36% to NGN512 million compared to NGN324 million recorded in 2014.

The company’s gross premium written for the period rose to NGN3,7 billion compared to NGN3,0 billion reported in 2014.

The steady increase in its net premium income to NGN2,4 billion compared to NGN1,9 billion recorded in 2014 further benefitted its bottomline.

Total assets for the period has risen to NGN19,4 billion compared to NGN17,9 billion reported in 2014. However, total liabilities for the period rose to NGN3,1 billion versus NGN2,3 in 2014.

Linkage Assurance disclosed that for the period, its reinsurers were: African Reinsurance Corporation, Lagos, Nigeria
Swiss Reinsurance Company, Zurich, Switzerland, Continental Reinsurance Plc, Lagos, Nigeria, WAICA Reinsurance, Sierra Leone, Arab Insurance Company, Bahrain, Lloyd’s Underwriter Syndicates No. 2010 MMX, London, Lloyd’s Underwriter Syndicates No. 0510 KLN, London, Atrium Underwriters Limited @ Lloyd’s Underwriter Syndicate, UK, Hannover Ruck SE, Hannover, Germany.

corporate information (Disclosure)
The Company was incorporated on the 26th of March 1991 as a private limited liability company – Linkage Assurance Company Limited. It was registered by the National Insurance Commission on the 7th of October, 1993 to transact general insurance business and commenced operations in January, 1994. The Company became a Public Limited Liability Company in 2003 and the company’s shares, which are quoted on the Nigerian Stock Exchange, were first listed on 18 November, 2003.

In compliance with regulatory directives on re-capitalization in the Insurance Industry in 2007, the Company merged with the former Central Insurance Company Limited. The registered office of the Company is Plot 20 Block 94 Providence Street, Off Adewunmi Adebimpe Street, Lekki Phase 1, Lekki, Lagos, Nigeria