Linkage Assurance plc records 18% rise in profit for Q1 2016

Sakiru Oyefeso

Linkage Assurance Plc in its financial report for Q1 2016 recorded a gross premium income of NGN1.6 billion compared to NGN 1.4 billion it recorded in the financial year 2015 which represents 18% increase.

The company net premium income rose to NGN1 billion in Q1 2016 in contrast to NGN8.9 million recorded same period 2016.

Linkage assurance total assets for Q1 2016 rose to 20.1 billion compared to 20 billion it posted in Q1 2015. However, its liabilities remained at NGN14.8 billion in 2016 same as NGN14.8 billion in fiscal year 2015.

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.