Standard Alliance Insurance records 88.41% PAT decline in 2018

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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.

Financial Highlights

  • 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%.

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