WorldStage Newsonline– Niger Insurance Plc, a Nigerian firm which is into underwriting of life and general insurance business has released its statement of financial position for the first quarter ended 31st , March 2020 and second quarter ended 30th June, 2020.
The gross premium written for the Q1 dropped to N416.469 million from N708.132 million in Q1 2019 but profit after tax jumped to N261.633 million from N34.273 million in Q1 2019.
However, gross premium written dropped to N189.408 million in Q2 from N408.903 million in Q2 2019 while the company slipped into loss after tax of N311.425 million from a profit of N29.019 million in Q2 2019.
WorldStage earlier reported that the company recorded 59% drop in gross premium written to N1.846 billion for the year ended 31 December 2019 from N4.450 billion in 2018.
