Cornerstone Insurance pays N1.3b claim in Q1, improves profit by 38.5%

May 25, 2021

  Zainab Iwayemi   Financial Statement seen by Business a.m. shows that Cornerstone Insurance has recorded total claim payout of N1.3 billion between January and March 2021. The amount represents N325 million high against the N1.63 year on year report. The insurer consequently improved profit for the year by a whole 38.5 percent, rising from […]

AXA Mansard’s Y-on-Y Q1 profit up 34%

May 17, 2021

Axa Mansard optimistic over 2020 returns despite year’s crises

    Zainab Iwayemi   AXA Mansard Insurance has recorded a 34 per cent uptick in its profit after tax (PAT), to N2.6 billion for the first quarter of 2021 compared to N1.96 billion it posted during the same period last year. As contained in the financial report the company released recently, the growth in […]

Veritas Kapital sees profit jump above 700% to N301m in Q1’21

May 17, 2021

  Zainab Iwayemi   Veritas Kapital Insurance saw its profit rise by an impressive 732 per cent to N301 million in the first quarter of 2021, against the N37 million recorded for the same period last year. The financial report released to the market and seen by Business A.M. shows that gross premium written and […]

NEM Insurance welcomes new CFO

April 28, 2021

NEM Insurance

Zainab Iwayemi   NEM Insurance Plc has appointed Idowu Semowo as the new Chief Financial Officer, CFO to manage the financial action of the firm. This was contained in a corporate disclosure filed at the Nigerian Exchange on Wednesday. The disclosure titled ‘Notification of Appointment of New Chief Financial Officer’ and signed by the Olajumoke […]

AXA Mansard Pension rebrands, changes name to Tangerine Pensions Limited

April 26, 2021

Zainab Iwayemi   AXA Mansard Pensions Limited has announced a rebrand and change of name to Tangerine Pensions Limited after it received approval from the National Pension Commission (PenCom). The name change arose following the acquisition of AXA Mansard Pensions Limited’s equity by Eustacia Limited, a company controlled by Verod Capital Management Limited. Dapo Akisanya, […]

Better days ahead! Insurance firms see big profits amid crises in 2020

April 12, 2021

·        Prestige, Linkage, Consolidated Hallmark swim in high earnings   Zainab Iwayemi   The Nigerian insurance industry, for the first time in a long while, appears to present a clearer atmosphere, offering stakeholders an opportunity to have a good glance into what experts see as the bright future ahead for insurance in the country. A study […]

Prestige Assurance sees 57% jump in profit to N246 million amid crises year

March 31, 2021

Zainab Iwayemi   The year 2020, for many businesses, was tough as it saw organizations going on compulsory lockdown as well as employees working from home. Despite this, Prestige Assurance recorded a 57 percent Profit After Tax (PAT) which translates into N246 million profit for the full year 2020. This was contained in its audited […]