By Ngozi  Onyeakusi  —— Sunu Assurances Nigeria Plc, formerly Equity Assurance Plc., one of the foremost underwriting firms in the country has released its interim financial statements for the year ended 31 December, 2020, with growth in groups gross premium written to N4.2 billion from N3.060 billion record in  2019.

The group also returned to profit with N301.035 million from a loss of N225.268 million loss written in 2019.

The company’s underwriting profit equally grew to N1.22 from N781 million recorded in 2019 representing a growth of 562% which was due to improved technical efficiency in business operations.

Commenting on the result, the Managing Director/ CEO, SUNU Assurance, Mr Samuel Ogbodu stated that the company will close the year with a premium production of at least N3.15bIllon in 2020 from a premium of N2.24billion in 2019 which represents a growth of 40% due to the restructuring initiative and strategic business transformation carried out in recent quarters to mitigate the effect of economic challenges.
SUPERNEWS  Nigeria earlier reported  Sunu Assurances’ financial statement for the Q3 ended 30 September, 2020 with 43.9% rise in gross premium written in nine months to N3.390 billion as against N2.356 billion in  2019.