Mutual benefits assurance plc said its net profit for the nine months in 2017 was NGN790.1 million compared to NGN479.7 million loss recorded same period in the financial year 2016.
The insurance company recorded NGN10.5 billion gross premium written in contrast to NGN9.8 billion recorded in the previous year while gross premium income was NGN9.8 billion against NGN8.8 billion in the year before.
The company’s reinsurance expenses lowered to NGN773.5 million against NGN896.8 million posted last year while net premium income was NGN9.0 billion versus NGN7.9 billion reported in 2016.
Mutual benefits assurance plc declared NGN55.0 billion as total assets for the nine months compared to NGN51.4 billion declared last year while total liabilities was NGN46.9 billion versus NGN44.4 billion in the year before.
