Regency Alliance Insurance posts 244% profit for Q2

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Regency Alliance insurance company in its financial report for second quarter 2017 reported 244% profit to NGN105.0 million in contrast to NGN30.5 million loss recorded same period 2016.

The insurance company recorded NGN1.3 billion gross premium for the period compared to NGN1.0 billion recorded in the year before while net income was NGN929.5 million against NGN569.3 million in the previous year.

Regency Alliance said its total assets for the period was NGN9.4 billion compared to NGN7.9 billion acquired in the year before while total liabilities was NGN3.5 billion against NGN3.0 billion in 2016.