• About
  • Advertise
  • Privacy & Policy
  • Contact
Wednesday, June 25, 2025
Bislad News
  • Login
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
Bislad News
No Result
View All Result

2021 Q2 Result: STI Generates N7.8Bn GPW

by Bisi Bamishe
August 11, 2021
in Insurance
2021 Q2 Result: STI Generates N7.8Bn GPW
Share this:

 

 

By Bisi Bamishe

Read Also:

Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga

NAICOM Hosts Gambia Central Bank Delegation For Strategic Knowledge Exchange

Sovereign Trust Insurance Plc  has undoubtedly remained on the path of growth in the second quarter of 2021 going by the recent release of the Underwriting Firm’s unaudited account.

According to the press statement released by the company’s DGM Sales and  Corporate Communications,  Mr Segun Bsnkole, second quarter performance shows that the Underwriting Firm is very much on course with meeting the aspirations of her various Stakeholders in the days ahead.

The company generated total gross premium written of N7.8b compared with N6.03b recorded at the corresponding period of 2020, representing 30% growth rate. In like manner, the net premium income grew from N2.4b in the second quarter of 2020 to N2.8b in the same period of 2021 amounting to a growth rate of 16%.

A remarkable increase was also recorded in the Profit Before Tax of the Company from N501m in the second quarter of 2020 to N662m in the corresponding period of 2021, with a 32% growth rate while Profit After Tax grew by 16% from N448m in the second quarter of 2020 to N518m in the second quarter of 2021.

Understandably, as the Underwriting Firm grew the portfolio of its business, it also recorded a slight increase in the claims payout in the second quarter of 2021 having paid a total sum of N1.8b compared to the sum of N1.4b that was paid as claims in the corresponding period of 2020, representing a 26% increase in claims payout. This also underscores the Company’s commitment to settling genuine claims as and when due. Net Claims expense in the second quarter of 2021 grew by 9% to N1.074b compared to the net claims expense of N985m in the second quarter of 2020.

The total equity of the Company in the second quarter of 2021 also grew by 11% from N8.1b in the corresponding period of 2020 to N9.059b in Q2 of 2021 while the Total Assets also increased from N13.1b in the second quarter of 2020 to N13.8b in the corresponding period of 2021 with a marginal growth rate of 5%. Earnings per Share rose from 3.95kobo in the second quarter of 2020 to 4.57kobo in the second quarter of 2021 while net assets per share also increased from 72kobo in Q2 2020 to 79kobo in the corresponding period of 2021.

Previous Post

Photo News: Wedding Of Efekoha’s Daughter In Pictures

Next Post

2021 AIICO Training For NAIPCO Members In Lagos

Bisi Bamishe

Bisi Bamishe

I am a journalist with many years of experience in the field of Insurance and Pension. In 2003, I won Nigeria Media Merit Award of the IGI's Prize For Insurance Reporter of The Year

Related Posts

Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga
Insurance

Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga

June 24, 2025
NAICOM Hosts Gambia Central Bank Delegation For Strategic Knowledge Exchange
Insurance

NAICOM Hosts Gambia Central Bank Delegation For Strategic Knowledge Exchange

June 23, 2025
IMT 4.0. Sets Stage For 2025 Edition, Names Former McKinsey Partner, Tech Innovator, Per Lagerström As Headline Speaker
Insurance

IMT 4.0. Sets Stage For 2025 Edition, Names Former McKinsey Partner, Tech Innovator, Per Lagerström As Headline Speaker

June 23, 2025
NAICOM and OHCSF Host Capacity Building Workshop On Group Life Assurance Policy
Insurance

NAICOM and OHCSF Host Capacity Building Workshop On Group Life Assurance Policy

June 19, 2025
Insurers Committee Launches  Nationwide Campaign For 3rd Party Motor lnsurance
Insurance

SUPERNEWS  Conference Holds ln Lagos Today.  

June 19, 2025
Insurers Committee Launches  Nationwide Campaign For 3rd Party Motor lnsurance
Insurance

Count Down To 2025.SUPERNEWS  Annual Confab, June 19

June 17, 2025
Next Post
2021 AIICO Training  For NAIPCO Members In Lagos

2021 AIICO Training For NAIPCO Members In Lagos

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

NIMC Trains Corps Members For Nationwide NIN Ward Enrollment 

NIMC Trains Corps Members For Nationwide NIN Ward Enrollment 

1 day ago
Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga

Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga

1 day ago
NAICOM Hosts Gambia Central Bank Delegation For Strategic Knowledge Exchange

NAICOM Hosts Gambia Central Bank Delegation For Strategic Knowledge Exchange

2 days ago
IMT 4.0. Sets Stage For 2025 Edition, Names Former McKinsey Partner, Tech Innovator, Per Lagerström As Headline Speaker

IMT 4.0. Sets Stage For 2025 Edition, Names Former McKinsey Partner, Tech Innovator, Per Lagerström As Headline Speaker

2 days ago

Bisladnews.com is an online publication of Bislad Communication Network Company. It is a news platform dedicated to providing top news.

Follow Us

Browse by Category

  • Back in the days
  • Business
  • Features
  • Insurance
  • Interview
  • News
  • Opinion
  • Paper Presentation
  • Pension
  • Photo Gallery
  • Politics
  • Sports
  • Uncategorized

Recent News

NIMC Trains Corps Members For Nationwide NIN Ward Enrollment 

NIMC Trains Corps Members For Nationwide NIN Ward Enrollment 

June 24, 2025
Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga

Artificial Intelligence, Catalyst For Transformation In Financial Services — Kwairanga

June 24, 2025
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In