Linkage Assurance plc is reporting 297% increase in profit to NGN2.4 billion for the nine months ended in 2017 compared to NGN616.0 million recorded same period in the financial year 2016.
The insurance company delivered NGN3.3 billion gross premium written fir the period same as NGN3.3 billion reported in the previous year while gross premium income lowered to NGN3.1 billion against NGN3.2 billion in the year before.
The company’s reinsurance expenses increased to NGN1.1 billion from NGN905.9 million in 2016 while net premium income was NGN2.0 billion against NGN2.3 billion in the previous year. Investment income stood at NGN2.9 billion against NGN344.6 million in 2016.
Total assets declared by Linkage Assurance was NGN25.0 billion compared to NGN20.3 billion declared in 2016 while total liabilities was NGN4.0 billion versus NGN3.7 billion in the year before.
