Amaka  Obiefuna.

Jide Orimolade who is the firms Managing Director/CEO announcing its audited half (H1) year financial results ended June 30, 2017, during the Chief Executive Officers, CEO Forum organized by the National Association of Insurance and Pension Correspondents ( NAIPCO) in Lagos.

He revealed that the company’s gross premium income grew by 17 percent to N2.764billion in 2017 when compared to N2. 371billion in 2016 reported in same period. “Our target is to record a minimum of 40 percent. The various strategies we have put in place in terms of retail and corporate businesses we believe will enable us to achieve it,” he added.

Mr Orimolade said that the company’s profit after tax grew from N307, 334 million half year 2016 to N318,749million in same period of 2017 representing four percent increase.The firm is aiming high to meet a target of N1billion at the end of 2017, which he said is achievable through strategic plan and efficient staff and management.

Speaking on achievements during the period under review he said the firm maintained prompt claims payments, despite the high increase in claims report which he attributed to flooding at the half part of 2017. The company also settled claims within 72 hoursand paid a total of N622,518 million as claims to its customers.

The MD further said he said that as at August 2017 the total claims paid to customers is close to N1billion just as it generated an investment income of N400million when compared to N2.33 million report in same half year of 2016 and total assets stood at N10, 631,874billion in 2017 when compared to N8,580,876 billion reported in 2016