Linkage Assurance wins Pearl Sectoral Leadership Award in insurance industry
Underwriting firm, Linkage Assurance Plc has won the 2018 Pearl Sectoral Leadership Award in the insurance industry, on corporate excellence in the capital market.
A press statement by the firm said Linkage came tops, having been nominated with NEM Insurance Plc and Continental Reinsurance Plc, at a prestigious event held in Lagos with key stakeholder in the country’s capital market in attendance.
According to the organizers, the statement added, Linkage Assurance Plc alongside other sectoral winners were companies that despite challenges in the economy in the 2017 financial year weathered the storm, outperform others, and sustained leadership of the market.
“Tayo Orekoya, President/CEO of Pearl Awards Nigeria, said the award has recognized and rewarded over 85 quoted companies for outstanding operational and stock performance since inception.
“While commending Linkage Assurance for standing tall amidst challenges undermining growth of insurance business in Nigeria, he Orekoya said “As partners in progress with capital market regulators, we shall continue to engender healthy rivalry among other initiatives aimed at deepening the vibrancy of the market, the statement stated.
It added that “Daniel Braie, Acting Managing Director/CEO of Linkage Assurance plc who led top management of the Company to receive the award thanked the organizers for recognizing the efforts that the Board and management of the company were making to ensure value creation for shareholders.
The statement quoted Braie as saying “we are committed to sustaining the rules and regulations of the capital market, ensure regulatory compliance and good corporate governance practice”
“He noted that the company will continue to deploy strategies and measures to increase insurance penetration and grow the business such that its shareholders will continue to earn good returns on their investment.
“According to Braie, the potential of the insurance industry is huge, calling on the general public to embrace insurance as the most effective and efficient means of managing their risks against unforeseen circumstances.”
Linkage Assurance Plc in the 2017 financial year, according to the statement, recorded a 431 percent growth in Profit After Tax (PAT), growing from N544.6 million in 2016 to N2.89 billion in the review period.
It added that Total assets during the period also rose by 15 percent, moving from N20.33 billion the previousyear to N23.31 billion in 2017.
