Royal Exchange reports 19% rise in profit for Q2

Continental Reinsurance

Royal Exchange’s profit increased by 19% to NGN203.3 million in second quarter 2017 compared to NGN171.1 million recorded within the same financial period in 2016.

The company said its gross premium income was NGN6.8 billion in contrast to NGN6.4 billion in the previous year while reinsurance expenses was NGN2.5 billion against NGN2.1 billion in the year 2016.

Total assets for the period was NGN26.6 billion compared to NGN36.6 billion in the previous year while total liabilities lowered to NGN20.0 billion from NGN25.2 billion in the year 2016.

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