NSIA Insurance Limited has declared a gross premium written of N18.02 billion.
Customers also got their benefits, as NSIA Insurance Limited paid out N8.81 billion in claims during the 2022 financial year.
Delivering the company’s 2022 annual report to shareholders, its chairperson, Dr. Adesegun Akin-Olugbade, said despite the challenging operating environment, the company closed the year with positive results, delighted its shareholders, and made prompt claims payment to customers.
He said there was an improvement in gross premium income at 33 per cent from N12.68 billion to N16.82 billion in 2022.
He noted that the total assets of the company grew by 13 per cent from N25.51 billion to close at N28.69 billion as of 31 December 31, last year, adding that the growth was driven by the company’s sound investment strategy, which was bolstered by the increase in gross premium written.
He said: “The net effect in equity was a growth of seven per cent from N13.64 billion to N14.59 billion in 2022.
“The company declared and approved a dividend payment of 2.2 kobo for the year ended December 31, 2022, for each ordinary share held in the company, amounting to N396 million. It is on record that NSIA Insurance Limited has paid a cumulative dividend of N657 million to its shareholders in the past three years,” he maintained.
Managing Director, NSIA InsurInsurance Limited, Moruf Apampa, said: “We remain adaptable and responsive to the unfolding trends, modifying our plans and operations in a manner that would ensure that we achieved our strategic objectives.’’
“Despite a number of economic development obstacles in 2022, we made exceptional success across key metrics and major lines during the financial year”, he added.
