Standard Alliance Insurance Plc, Insurance Carriers, Brokers and Services company in the Financial Services sector announced 25.7% Gross Premium Decline in Q4’18 Result.
- Gross Premium declined by -25.7% to N3.8bn from N5.1bn in the previous quarter.
- Profit before tax declined by 88% to N32.2m.
- Profit after tax declined by 91% to N24.8m.
- Net Assets grew by 2% from N5.2bn to N5.3bn.
Standard Alliance Insurance recorded a 26% decline in 88.41% decline in pretax profit at N32.206 million from N277.766 million in full-year 2017.
The major investors in the company include Gemrock Management Company Limited 20.09%, Standard Alliance Investments Limited 19.81% and FCMB Plc 5.42%.