WorldStage Newsonline– Law Union & Rock Insurance PLC, one of the first generation insurance companies to open office in Nigeria six decades ago has projected a profit of N379.752 million for the end of the year.
In a note to the Nigerian Stock Exchange signed by Ebenezer Ijanusi, Head Financial Reporting and Budget and Ayo Osunbunmi, Chief Financial Officer, gross premium is projected to be N1.32 billion while cash balance at the end of the year will rise by 11.87% to N4,931,477,288.
The Federal High Court if Nigeria in the Lagos Judicial Division under the Honourable Justice R. M. Aikawa recently directed that a meeting of the holders of the fully paid ordinary shares of Law Union & Rock Insurance Plc be convened to approve the acquisition of 100 per cent issued capital of the company by Kanuri LUR (lawunion).
