FBN General Insurance Posts 91% Increase in PBT

WAPIC
  • FBN General Insurance Posts 91% Increase in PBT

FBN General Insurance Limited grew its profit before tax to N615 million in the 2018 financial period.

In a statement by the underwriting firm but approved by the National Insurance Commission, the firm grew its profit before tax by 91 per cent from the N322.8 million recorded in 2017.

Also, its gross premium written jumped 32 per cent to N4.53 billion during the financial year, up from N3.51 billion in 2017.

During the same year, the firm grew its total assets by 31 per cent to N9.45 bullion, again up from N7.24 per cent.

Speaking on the company’s performance, Bode Opadokun, the Managing Director/Chief Executive Officer, FBN General Insurance, attributed the improved performance to the underwriting firm’s commitment in putting its clients first and resilience in achieving remarkable milestones.

“The business gained momentum in 2018 as results across key performance metrics clearly validate FBN General Insurance commitment to the delivery of profitable growth and unwavering dedication to our clients, communities and stakeholders,” he said.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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