Coronation Insurance Total Assets Soar To N39.9 billion In 2021
From Ngozi Onyeakusi— Coronation Insurance Plc. has posted a total assets growth to the tune of N39.9 billion for its 2021 audited financial statement compared to N39.72 billion recorded in the comparable period of 2020.
The financial statement which was filed with the Nigeria Exchange was announced by the firm’s Managing Director, Olamide Olajolo.
According to him, the groups net underwriting income grew significantly to N9.66 billion against N9.46 billion recorded in the previous year.
Claims paid within the period as well increased significantly to N7.31 billion compared to N6.90 billion recorded the preceding year while underwriting expenses reduced to N2.7 1 billion against N2.98 billon in 2020.
The group’s gross premium written stood at N14.1 billion within the period.
Coronation is a company in Nigeria licensed to underwrite all classes of life and non-life insurance for the personal, groups, commercial and industrial sectors.
The company has operations in Nigeria and Ghana. General and personal insurance products cover motor, life, investment, yacht, marine and home insurance.
Corporate insurance products cover general property insurance, automotive, marine, aviation, all risk, fire and special perils, goods-in-transit among others.
Its public sector clients include government ministries and departments, parastatals and agencies. Wapic Insurance Plc (now Coronation Insurance Plc.) was founded in 1958. Its company head office is in Lagos, Nigeria. Coronation Insurance Plc is listed on the Nigerian Exchange