Linkage Assurance Plc posts NGN2.6 billion profit in Q2 2016

MRS Oil

Linkage Assurance Plc in its Q2 2016 result released to the NSE shows that the company recorded a gross premium income of NGN2.6 billion in Q2 2016 compared to NGN2.4 billion recorded same period 2015.

The company’s net premium income rose to NGN1.6 billion in the fiscal year 2016 in contrast to NGN1.2 billion it posted in the financial year 2015.

Linkage Assurance said it ended the quarter with a total asset of NGN21.9 billion in the year ended 2016 compared to NGN20.1 billion recorded in the fiscal year 2015.

However, it liabilities rose to NGN1.8 billion in 2016 compared to NGN1.7 billion it recorded in 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