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Determined to increase shareholders’ confidence in its business, African Alliance Insurance Plc has delivered a gross premium income of N7.109 billion in the 2022 financial year.
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The underwriter, at the company’s 53rd and 54th yearly general meeting in Lagos, also declared an annuity claims payment of N4.263 billion.
Chairman of the underwriting firm, Ogwemoh Sylva, said the gross premium income of life insurance grew from N7.03 billion in 2021 to N7.109 billion in 2022.
He added that the group’s gross premium written stood at N6.814 billion as at 31st December 2022 when compared to N6.158 billion recorded in the same year of 2021.
Net premium income for the company appreciated from N5.588 billion in 2021 to N6.889 billion in the year under review, showing a growth of 23.28 per cent.
The group’s total assets grew to N53.473 billion at the end of 31st December 2022 compared to N41.587 billion recorded in 2021, indicating a 28.58 per cent increase.
He assured that the board and management of your company would continue its unwavering commitment to sound risk management and the maintenance of a robust corporate governance structure.
“Our optimism for the upcoming years is underpinned by a dedication to delivering on our strategic objectives and providing unparalleled customer experiences. We are resolute in our pursuit of excellence and look forward to the opportunities that lie ahead,” he said.
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