*Possible N29m loss from Equity Resort Hotel investment
*To convert N2.989b Daewoo debt into equity
WorldStage Newsonline– Sunu Assurances Nigeria Plc, formerly (Equity Assurance Plc) is an established insurance company in Nigeria offering non-life insurance for the domestic and corporate sectors as well as asset management and health management services has released its 2020 earnings forecast for the fourth quarter with profit after tax of N130,387,933.62 and gross written premium projected as N3.06 billion representing 89.7% of 2020 full year budget and an increase of 36.4% over the gross premium in 2019 which stood at N2.24 billion
The company which also has business interests in Ghana forecast a profit after tax of N130,387,933.62 during the quarter with product mix projected at 21.6%, 21.8%, 12.0%, 20.6%, 5.9%, 15.5% and 4.0% for fire, oil & gas, marine, motor, engineering, general accident and aviation respectively.
Other notable expectation during the quarter include projected loss of N29.006 million from Equity Resort Hotel investment by the year end and conversion of Daewoo debt of N2.989 billion into equity as passed during the Extra ordinary General Meeting and this was projected for Quarter 4
The company has also projected share reconstruction of its share capital by the deletion of 4 for every 5 held during Quarter 4.
