Coronation Insurance Plc’s total assets rose to N39.8bn as of the finish of 2021 monetary period.

The Director, Mutiu Sunmonu, unveiled this during its yearly regular gathering in Lagos.

“The Gathering’s gross premium remained at N14.13bn in 2021 from N16.19bn in 2020, while complete resources rose marginally to N39.8bn from N39.72bn,” he said.

The Managing Director, Olamide Olajolo, expressed in spite of the fact that there was a decrease in the organization’s GWP and GPI when looked at against the earlier year figures, the organization fared better in the year under survey as the distinction between the GWP and GPI for the 2020 monetary year was more than the distinction in the figures for the 2021 monetary year.

He said, “The decline is attributed to the company’s decision to not underwrite some high-risk accounts which required huge reinsurance expenses and have high loss ratios. However, we are pleased to inform our shareholders that the company has since secured more profitable accounts to improve its financial performance.

“As part of the efforts to increase the GWP and GPI, the company has identified and commenced strategic partnerships such as the Bancassurance Partnership with Access Bank Plc which accounts for 27 per cent of the GWP for the 2021 financial year.”

Apart from its bancassurance partnership, he said the company developed five products, three of which had been approved by the National Insurance Commission.

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