The management of Anchor Insurance has said that the company recorded N3.43 billion gross premium written in the year ended December 31, 2018, as against N2.22 billion it netted during the corresponding period of 2017.
This shows a 54.38 per cent growth over the previous year’s performance.
The company’s total assets during the period under review grew from N6.2 billion in 2017 to N6.6 billion , while its shareholders’ fund increased from N5.07 billion in 2017 to N5.2 billion. This is as its solvency margin stands at N4.8 billion.
Meanwhile, the company paid total claims of N756.8 million to affected genuine policyholders during the period as against the N540.3 million in 2017.
According to the company, this “demonstrates our strength to accommodate any volume of genuine claims reported and by direct implication, our ability and readiness to handle any general insurance business anytime.”
The company known for its clean claims administration record, also announced the approval of its audited financial statement for the period by the National Insurance Commission (NAICOM).