Chiamaka Ajeamo
Linkage Assurance plc, has announced that its Profit After Tax (PAT), for half-year 2019 increased by 16 per cent to N572.7 million as against N439.7 million recorded in 2018 in the same period under review.
According to the firm’s financial statement collected from the Nigerian Stock Exchange (NSE), the company during the period under review, also recorded a Gross Premium Written (GPW) income of N4.1 billion as against N3.6 billion the previous year.
This was even as the firm grew its total assets by 8 per cent to N24.8 billion at the end of June 2019 from N23.1 billion in 2018.
With efficient risk management, Linkage Assurance during the period returned to profitability, posting a 176 per cent increase, as earnings figure moved from negative N367.1 million in 2018, to positive N296 million.
Commenting on the results, the Managing Director/Chief Executice Officer, Daniel Braie, said the company has diversified its portfolio to achieve income efficiency with quality risk management, noting that management is actively watching its cost to ensure that it delivers value to shareholders.
He said, “in terms of compliance to regulatory requirements, we are up and doing to ensure we remain above board and maintain our position in the industry”.