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Linkage Assurance Posts N4.1bn Gross Premium



Leadership Nigeria News Today

Lagos Linkage Assurance PLC has recorded a gross premium written of N4.10 billion in its 2017 financial year end as against N4.03 billion it posted in 2016. The chairman, Linkage Assurance Plc, Joshua Bernard Fumudoh, who made the announcement at the 24th Annual General Meeting (AGM) of the firm in Lagos, also explained that the gross premium income was six per cent up to N4.186 billion in the reviewed year as against N3.96 billion the past year. Linkage Assurance Profit Before Tax, he said, rose by 218 per cent from N942.68 million to N2.996 billion in 2017, while the Profit After Tax also appreciated significantly by 431 per cent to close at N2.891 billion in 2017, even as total assets appreciated by 15 per cent to N23.3 billion in 2017, from N20.33 billion in the previous year. Fumudoh also said the company paid out a total of N1.038 billion in claims in 2017 as against N613.2 million in 2016, underscoring its commitment to its policyholders. Noting that the company was determined to take advantage of developments in the economy by developing strategic initiatives such as deployment of online portal for selling of motor insurance, as well as repositioning its bouquet of retail products like the Third Party Plus (a budget friendly motor insurance plan) to ensure sustainable growth for the company in 2018 and beyond, he added that, “Continuous growth in customer satisfaction, productive sales in the market and impeccable underwriting and risk management practices will set us up for achievable greatness in 2018.”

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