Insurance Firms

Regency Alliance posts 65.7% drop in Q2 profit

Thursday, 19 August 2010 07:38 | Written by toonna |

Regency Alliance Insurance Plc has released its second quarter result for the period ended June 30, 2010, indicating a 65.7 per cent drop in profit after tax.

The company‘s profit after tax stood at N67.88m in 2010, showing a decline of N130.13m, from N198.01m in 2009.

Its profit before tax also dropped by 65.5 per cent, from N211.78m in 2009 to N72.99m in 2010, while turnover rose by 4.1 per cent to N956.49m in 2010, from 919.11m.

NCR Nigeria Plc, in its third quarter result for the period ended June 30, 2010, recorded a 27.17 per cent rise in profit after tax, from N232.76m in 2009 to N295.99m in 2010.

Staco Insurance settles N726.9m claims in seven months

Tuesday, 17 August 2010 09:00 | Written by toonna |

Staco Insurance Plc has settled total claims worth over N726.9m in seven months of operation in the 2010 operating year.

A statement on Friday said the figure represented a percentage increase of about 6.5 per cent over the corresponding period of year 2009, which was put at N683.5m.

The breakdown of the claims paid within the seven months period in 2010 indicates that N291.3 m was paid on motor insurance policies, which is where the highest claims was paid.

Prestige Assurance records N3.45b premium income

Thursday, 05 August 2010 10:54 | Written by toonna |

Prestige Assurance Plc has announced a gross premium income of N3.445 billion for the year ended December 31, 2009, which represents an increase of 14.5 per cent over N3.01 billion achieved the previous year.

Insurers foresee rise in reinsurance rate over Gulf oil spill

Friday, 23 July 2010 13:23 |

Experts in the insurance industry have concluded that the millions of dollar claim paid by the British Petroleum (BP) on the oil spill in the Gulf of America and Mexico would increase cost of reinsurance in the international market.

Insurance industry records N200bn premium income

Tuesday, 06 July 2010 09:07 |

The volume of business written by the Nigerian insurance industry has grown from N150,259 billion in 2008 to about N200 billion in 2009 in spite of the continuous world economic crisis that persisted in

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