Coronation Life Grows Premium Written By 8.19% To N4.065bn In 2022
Akinlolu Akinyele, MD/ CEO Coronation Life Assurance Limited
Coronation Life Assurance Limited has continued to make progress in its business activities as shown in its performance as contained in the full year 2022 financial statement released by the Company recently.
The Company, in its financial statement for the period ended 31 December, 2022, signed by Abiodun Akinusi, stated that its Gross premium written has grown by 8.19 percent to N4.065 billion in 2022 from N3.757 billion recorded in 2021, just as the total assets rose to N13.716 billion from N12.287 billion made in 2021.
The Company’s underwriting profit, according to the statement, has appreciated to N2.206 billion in 2022 from N223,767 million posted in 2021, while Gross Premium Income (GPI) and net premium income stood at N3.369 billion and N2.591 billion respectively in the year under review.
During the period under review, the Company’s Profit before tax (PBT) went up to N1.385 billion from a loss position of N695,856 million reported in preceding year.
The company’s profit for the year also rose to N1.365 billion in 2022 when compared to loss of N702,020 million reported in the same period of 2021.
Coronation Life Assurance Ltd, offers a range of Life insurance products that provides the policyholders and their loved ones guaranteed peace of mind in the event of an unfortunate circumstance.
The firm was licensed to underwrite all classes of Life assurance risks for both Individuals and Corporate entities, both short term and long-term risks. The company is known for its finest Customer Experience and best in class service through digital innovations.
One of the company’s objectives is to support its customers in protecting whatever that are important to them and help them look to the future with peace of mind and confidence.
The company is also in business to continually design simple yet relevant products, services and propositions that meet the needs of its customers while striving to deliver the finest customer service experience.
Coronation Life Assurance products include Term Life Assurance, Group Life Insurance, Credit Life Insurance and Flexible Investments amongst others.
