Prestige Assurance Grows Gross Written Premium to N7.01 Billion in 2020

Prestige Assurance Plc, a leading insurance company in Nigeria, grew gross written premium from N6.13 billion recorded in 2019 to N7.01 billion in 2020.

Sarbeswar Sahoo, the Managing Director, Prestige Assurance, stated this in the company’s annual general meeting in Lagos.

He explained despite the tough business environment in the country, Prestige Assurance was able to post solid growth.

According to Sahoo, the company’s net premium income increased to N3.48 billion, up from N3.21 billion posted in 2019.

Shoos said, “Although the world is still battling with the pandemic and its effects on various sectors commendable, many businesses are cautiously optimistic of a more stable environment.

“Despite the challenging economic terrain, we were able to grow premium incomes and recorded strong profitability in the year.

“We remain committed to supporting customers with the right risk management solutions to ensure that businesses are well protected during and beyond this unstable period.”