Most insurance sector operators recorded positive results in their audited financial statements for the year ended December 31,2018.
The development has been attributed to continued resilience in their business model as well as the growing financial discipline by their respective management.
As a result of this impressive performance, shareholders of few insurance firms that have so far announced their results would smile home as some have announced dividend pay-out.
For instance, the FBNInsurance in its recently released results recorded general growth across all indices in the 2018 financial year.
The results showed that the insurer’s profit before tax (PBT) in the year under review grew by 44 per cent, from N4.26 billion in 2017, to N6.13 billion in 2018; while the gross premium written (GPW) grew from N19.6 billion in 2017 to N26 billion in 2018, accounting for a 33 per cent increase.
While commenting on the financial…