Lead way Assurance Company Limited has declared, that the company has made an asset increase from N100.5 billion in 2014 to N137 billion in the year ended 2015.
Acting Chairman,Jeremy Rowse, announced this recently, during the company’s 44th Annual General Meeting held in Lagos.
According to him, Claims paid by the firm rose to N14.3 billion from N12.7 billion (13% increase) in 2014. While Profit after tax rose to N6.3 billion from N2.8 billion in 2014 (125% increase)
Gross profit rose to N46.6 billion from N39 billion in 2014 (20% increase).This indicates a 37% increase from the previous year.
“With various guidelines aimed at reinforcing standards and encouraging confidence in the Nigerian insurance industry, the company remains poised to take advantage of emerging growth opportunities to compete effectively within its immediate market and the larger global markets.
“As the Nigerian polity itself becomes restructured to tackle the myriads of socio-political, economic and infrastructural challenges facing it, the opportunity for increase in insurance penetration and contribution to the GDP should increase. On our part, we will maximise our resources to remain competitive within the virgin retail space and in the face of softening commercial insurance rates.” He said.
Founded in 1970, Leadway Assurance Company is the leading composite Insurance Underwriter in Nigeria. Over the years, Leadway has built a solid reputation on Integrity, Prompt Claims Settlement and Innovative Service.
The company has provided efficient financial solutions leveraging on unique capabilities and skills to bring Insurance as a risk management tool to our clients.
The post above and its ensuing comments, if any, is purely the opinion of the writer(s). It therefore should never be considered as an investment advise of any sort. If required, readers should please consult a competent professional financial adviser for any investment decision.