Niger Insurance posts NGN269.5 million in nine months

Niger Insurance

Niger Insurance plc said its recorded NGN269.5 million profit in its financial results for the nine months ended in 2017 compared to NGN529.9 million loss recorded same period in the year 2016.

The bank ended the period with higher gross premium written of NGN7.1 billion in contrast to NGN4.6 billion recorded in the previous year while gross premium income was NGN7.0 billion against NGN4.5 billion in the year before.

The company’s reinsurance expenses grew to NGN2.0 billion compared to NGN378.0 million recorded in the year before while net premium income was higher at NGN5.0 billion against NGN4.1 billion posted in the year 2016.

Niger Insurance plc said its total assets for the period was NGN22.3 billion compared to NGN20.7 billion recorded in 2016 while total liabilities was NGN13.8 billion versus NGN12.9 billion in the year 2016.