Nigeria's Prsestige Assurance and Niger Insurance Declare 2007 Audited Full Year Results
| Sector: |
Insurance |
| Year End: |
31st December |
Presitge Assurance
The company recorded significant improvement in 2007 over the preceding year, with profit after tax rising by 56.61%. The company has proposed a dividend of 20 kobo per share, as well as a bonus of 1 for 4.
It must be noted, though, that several companies in the sector have posted much higher earnings growth rates reflecting on-going effort to substantially business grow.
| PRESTIGE ASSURANCE |
Year 2007
N' Million |
Year 2006
N' Million |
Change % |
| Gross Premium |
2,260.00 |
1,539.00 |
|
| Profit Before Tax |
901.60 |
600.48 |
|
| Tax |
263.49 |
193.07 |
|
| Profit After Tax |
638.08 |
407.42 |
|
| Proposed Dividend |
20k per share |
| Bonus |
1 for 4 |
| Closure of Register |
N/A |
| Payment Date |
N/A |
Niger Insurance
The results by Niger Insurance, though sustaining previous year's performance, would seem not to have shown a new impetus to achieve a quantum leap, as generally expected from the sector at this time. The marginal growth in premium income and net earnings clearly falls short of trends emerging from the sector.
| NIGER INSURANCE |
Year 2007
N' Million |
Year 206
N' Million |
Change % |
| Gross Premium |
3,874.00 |
3,138.00 |
|
| Profit Before Tax |
835.28 |
750.79 |
|
| Tax |
178.26 |
161.20 |
|
| Profit After Tax |
657.03 |
589.57 |
|
| Proposed Dividend |
15k per share |
| Bonus |
NiL |
| Closure of Register |
June 23, 2008 |
| Payment Date |
July 31, 2008 |
NSE Closing Figures
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