Linkage Assurance Grosses N12.9bn Premium

Linkage Assurance Plc recorded a gross written premium (GWP) of N12.98 billion in its 2022 financial year, as against N11.16 billion in 2021, translating to a 16 percent increase.

In its 2022 full-year financial results made available to the investing public and published on NGX Limited, the underwriting firm also recorded N506.162 million underwriting profit, a growth of 120 percent when compared with the figure in 2021.

Linkage Assurance also strengthened its bottom-line with Profit Before Tax (PBT) N2.696 billion, and Profit After Tax closing at N2.567 billion.

With full maximisation of its investment returns, Linkage Assurance saw income from investment boosting bottom-line stronger after a successful underwriting year.

Total assets at the end of the review year stood at N39.998 billion, a 3 percent increase from N38.710 billion in the previous year.

Reacting to the development, managing director/CEO, Linkage Assurance Plc, Daniel Braie, while commenting on performance of the company said, the insurer has continued to pay attention to customer satisfaction through excellent service delivery and prompt settlement of all genuine claims.

He said, the company is focused on maximising its potential in key segments of the market where it plays strongly and would continue to ensure it creates value for its teaming shareholders.

“As an organisation, we shall continue to refine our strategy in line with our strategic focus for the year and theme. Our theme for 2023 is ‘Consolidation,’ and this informs our strategic intent along the four pillars of Business growth, Operational excellence, financial excellence, and Customer & People,” he stressed. 

Braie said the company has identified strategic focus, which will guide it as compass in her quest to navigate through the highly competitive insurance market to increase market share in the most profitable sectors and offer excellent customer experience to all its clients.

Also, having recognised the impact of certain products lines like motor insurance on its portfolio, he said, the underwriter is positioned to offer to its clients different options of motor insurance according to their risk exposure(s), willingness and ability to pay.