Leadway, Nigeria’s largest insurer says premium surged by 60% in 2017

Leadway, Nigeria’s largest insurer says premium surged by 60% in 2017

Nigeria’s largest insurer, Leadway Assurance Company Limited, said its gross premium for the financial year 2017 rose by 60%.

The disclosure was made available in its audited annual general result at its annual general meeting holding in Lagos as we file in this report.

The result is a major achievement for the company given that it reported a gross premium of N84 billion for the year compared to N52 billion reported in 2016 full financial year.

Leadway’s net premium also surged to N69 billion compared to N41 billion disclosed last year.

Pretax profit for the insurance company rose to N15 billion compared N8.7 billion reported in 2016

The company said it will pay a dividend of N0.19 kobo per ordinary share.