Continental Reinsurance, NEM Insurance post impressive performance for Q1 2018

Continental Reinsurance Plc recently released its financial statements for the period ended Q1 March 31st 2018 just has NEM Insurance Plc has also informed the public of its financial performance for the first quarter of 2018.

Continental Reinsurance reported Gross written premium of N5.70 billion for the period ended March 2018 compared to N4.54 billion reported for the period ended March 2017. This represents a 26% increase for the comparative period in 2017.

Profit before tax was N720.9 million during the period under review representing a 51% increase from the N476.8 million reported for the period ended March 2017.

The company’s profit after tax for the period was N540.7 million compared to N357.6 million reported March 2017. This represented a 51% increase for the comparative period in 2017.

During the period Continental Reinsurance Plc also reported earnings per share of 5 kobo compared to 3 kobo reported for the same period in 2017. The figure represented a 67% increase for the corresponding period in 2017.

The company’s current share price at the floor of the Nigerian Stock Exchange was N1.52.

Meanwhile, NEM Insurance Plc recently released its financial statements for the period ended March 31st 2018.

The company reported Gross Premium Written of N5.67 billion for the period ended compared to N5.19 billion reported for the same period in 2017, representing a 9% increase for the comparative period in 2017.

During the period under review, the company’s profit before tax was N889.9 million, a 24% increase from the N715.5 million reported for the period ended March 2017.

Profit after tax for the period was N752 million compared to N605 million reported during the corresponding period of 2017.