Linkage Assurance records 9% rise in profit for September 2016

Union Diagnostics

Linkage Assurance posted gross premium income of NGN3.5 billion in the period ended 30th September 2016 compared to NGN3.1 billion recorded same period in fiscal year 2015, which represents 9% rise in profitability.

There was a significant increase in its net premium income for the period to NGN2.3 billion compared to NGN1.7 billion recorded in 2015 further benefited its bottom-line.

Total Assets for the financial year 2016 rose to NGN21.3 billion compared to NGN 19. 5 billion recorded in 2015. Hence the company total liability increased to  NGN15 billion compared to NGN14.8 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.