Linkage Assurance Grows Half-year Profit by 16%

Linkage Assurance Plc has recorded a 16 per cent growth in its profit after tax (PAT) in its half-year unaudited financial statement for the period ended June 30th, 2019, from N439.77 million in same period of 2018 to N572.76 million.

According to the financial statement made available to the Nigerian Stock Exchange (NSE), Linkage during the period under review posted a Gross Premium Written (GPW) income of N4.130 billion as against the N3.650 billion recorded the previous year.

With efficient risk management, the underwriter during the period returned to profitability in underwriting performance, posting a 176 per cent increase, as the figure moved from negative N367.11 million in 2018 to positive N296.06 million.

Linkage Assurance total assets also grew by eight per cent, up from N23.146 billion to N24.869 billion at the end of June 2019.

The company expressed optimistic that it would sustain the growth, saying initiatives already deployed were beginning to add value to performance of the company.

Managing Director/CEO of Linkage Assurance Plc, Daniel Braie, said the company has diversified its portfolio to achieve income efficiency with quality risk management, noting that management is actively watching its cost to ensure that it delivers value to shareholders.

In terms of compliance to regulatory requirements, we are up and doing to ensure we remain above board and maintain our position in the industry, Braie said.