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Published On: Wed, Feb 12th, 2020

Prestige Assurance grows GWP by 28% in Q4 2019

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Prestige Assurance Plc has recorded an improved performance as it’s Gross Written Premium(GWP) grew to N6.1 billion as againstN4.729 billion recorded within the same period in 2018, indicating a 28 percent increase.
In both its top and bottom-lines for the fourth quarter ended 31st December 2019, despite the harsh operating environment.
Its unaudited fourth quarter (Q4) results for the period ended 31, December 2019 shows a rise in its Net premium income from N2.2 billion in 2018 to N2.8 billion in the year under review, representing a growth of 26.93 per cent.
From the business generated in 2019 review period, the company also recorded a growth in Profit before tax of N684,883million when compared to N645,430million reported in 2018.
The total assets of top insurer was not left out as it stood at N12.5 billion same period of 2019.
Profit for the period at the end of fourth quarter (Q4) grew from N423,795 million in same period of 2018 to N499,964million as at the period under review ended 2019; this indicating a growth of 17.97 per cent.

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