Linkage Assurance Records N8.3bn GPW, Returns To Profitability

Linkage Assurance Plc has recorded a gross premium written(GPW) of N8.303 billion in its half year 2022 from N6.952 billion it posted in the previous year.

The company equally returned to profitability despite the challenging business environment.

The company, in a post to the Nigerian Exchange Limited and shareholders on the unaudited result for the second quarter ended 30th June 2022, posted a profit before tax (PBT) of N1.465 billion from a loss position of N2.111 billion the same period last year.

This is as profit after tax (PAT) also moved in similar direction closing at N1.392 billion at the end of June 2022, as against N2.090 billion loss same period in 2021.
Jointly signed by the chairman of the board, Joshua B Fumudoh, the managing director/CEO, Daniel Braie, and chief financial officer, Emmanuel Otitolaiye, the company informed the NGX and investing public that Linkage Assurancerecorded a net underwriting income of N3.515 billion from N2.703 billion in 2021, while the underwriting profit stood strong at N231.28 million from a loss position of N1.027 billion.
Growth in the underwriting profit, according to the company, was attributed to quality risks management and prudence in risks selection, even as it continues to meet its claims obligation promptly to her esteemed customers.
The underwriter, during the period, paid out N1.422 billion on claims to her numerous customers that suffered one form of loss or the other during the half year period, from N3.989 billion the previous period.