Regency Alliance projects 1,547.9% Profit Before Tax growth for Q1 2021
Regency Alliance Insurance Plc has projected a massive rise in its Profit Before Tax (PBT) to N237.2 million in the first quarter of 2021, indicating a 1,547.9% increase from the figure recorded in the third quarter of 2020.
This was contained in the firm’s recent earnings forecast sent to the Nigerian Stock Exchange market, predicting Profit After Tax (PAT) to rise to N203.99 million or +323.8%; Net premium income to increase to N1.32 billion, +9.5% quarter on quarter.
The company’s Investment income is projected to decrease to N85.95 million or -9.9%; Underwriting expenses is also projected to decline to N464.21 million, or -60% quarter on quarter. While Gross premium earned is predicted to increase to N2.09 billion or +57.5% during the period under review.
The company’s Taxation is projected at N33.21 million; Net cash generated from operating activities is projected at N228.94 million; Net claims is projected at N461.9 million; Net operating income is projected at N940.7 million and Commission is projected at N239.3 million
Regency Alliance Insurance Plc is an insurance company based in Lagos, Nigeria. It is licensed to cover all classes of non-life insurance with business interests in property investments, finance leasing, retail and microfinance banking, vehicle tracking and fleet management services.
Nairametrics.com
