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Guinea Insurance last week joined the list of companies that ended the 2017 financial year in profitability following 518.2 percent increase in profit after tax (PAT) which rose to N251.03 million as against N40.6 million made in same period in 2016.
Gross premium was up 6.7 percent to N967.14 million in 2017 up from N906.7 million made same period in 2016. Underwriting profit rose by 10.5 percent to N501.1 million from N453.4 million realised same period in 2016.
Profit after tax for the period increased from N40.6 million in 2016 to N251.03 million in 2017, representing an increase of 518.2 percent. Other income for the period jumped by 10,518 percent to N220.22 million from N2.07 million in comparable period in 2016. That brought the total comprehensive income for the insurance firm to N471.3 million as against N42.7 million in 2016.
So far, Continental Re-Insurance, AXA Mansard, NEM Insurance, Law Union and Rock Insurance and Regency Alliance Insurance are the only insurance companies that have declared their dividends for shareholders. For the financial year 2017, Continental Re declared 14 kobo dividend per share with April 16, 2018 as the closure date while payment will be made on April 26, 2018.
AXA Mansard declared 6 kobo dividend per share whose register of members will close on April 24,2018 and the payment date is May 10, 2018. Similarly, Law Union & Rock will pay shareholders whose names appear on the register of members as at April 24, 2018 a total of 4 kobo dividend per share. Payment date is May 5, 2018.
Regency Alliance Insurance has declared 3 kobo dividend per share which will be paid to shareholders whose names appear in the register of members as at the close of business on Friday 27, 2018. The payment date is May 25, 2018.
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