Coronation Life Assurance GPW Soars To N4 bn, as PAT Grows To N1.365 bn

From Ngozi Onyeakusi—Coronation Life Assurance Limited has unveiled its Financial Statement for the year ended 31st December 2022 recording N4.06 billion Gross Premium Wrtten against N3.47 billion posted in comparable period of 2021.

This is contained in the firms audited financial statement signed by its Managing Director Mr Akinlolu Akinyele and available to SUPERNEWS in Lagos.

According to the statement, Net income soared to N3.52 billion compared to N1.28 billion written the preceding period of 2021 while underwriting period grew to N2.2 billion from N223.7 million recorded in 2021.

Total assets grew to N13.7bn within the period of 2022 against N12.1 billion posted in 2021 financial year while total equity as well appreciated to N8.49 billion against N7.25 posted in the comparable year of 2021.

Profit before tax grew significantly from a loss position of N695.8 million in 2021 to a profit of N1.385 billion in 2022 financial year while Profit after equally soared to N1.365 billion in 2022 from a loss position of N702 million .