Mutual Benefits Assurance Plc said it realised NGN659.9 million for the first quarter of the year against NGN317.2 million posted in 2016.
Within the period, the company reported NGN3.7 billion as gross premium written compared to NGN3.2 billion reported same period 2016.
The insurance company recorded NGN4.0 billion gross premium income in contrast to NGN3.4 billion recorded in 2016. It’s reinsurance expenses was NGN376.5 million against NGN528.9 million posted in the previous year.While it’s net premium income was NGN3.7 billion versus NGN2.9 billion recorded in the year before.
The company said it’s profit before tax was NGN875.5 million in the period under review against NGN408.4 million recorded in the fiscal year 2016.
Mutual benefits assurance acquired NGN52.1 billion worth of assets in q1 2017 in contrast to NGN51.4 billion recorded in 2016. Total liabilities remained at NGN44.4 billion.
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