The officers claimed that the forthcoming promotion process is targeted to benefit the Inspector General of Police and his cronies, who recently got their PhDs from private universities. ArticlesRead More
Universal Insurance Grows Premium to N15.3bn, Strengthens Balance Sheet
Universal Insurance Grows Premium to N15.3bn, Strengthens Balance Sheet
Stories by Ebere Nwoji
Universal Insurance Plc, said it has once again delivered a solid financial result for the financial year ended 31st December 2024.
Chairman of the company, Jasper Nduagwuike, disclosed this during the company’s 55th Annual General Meeting (AGM), held in Lagos.
He said that the company’s gross written premium rose by customers trust in our service.
He said insurance revenue appreciated to N13.8 billion in 2024 as against N8.02 billion reported in the previous year of 2023, representing 72 percent increase.
He attributed this to the company’s ability to balance prudent underwriting with innovation and ensuring it meets the needs of customers while safeguarding long-term profitability.
Profit before tax rose by 291.26 per cent to N2.01 billion as against N526.716 million in 2023 while insurance service result grew to N2.79 billion from N1.54 billion.
On the company’s balance sheet, he said total assets expanded from N15.7 billion in 2023 to N20.3 billion in 2024, while shareholders fund went up from N10.4 billion to N 13.2 billion in the previous year of 2023.
Stories by Ebere Nwoji Universal Insurance Plc, said it has once again delivered a solid financial result for the financial year ended 31st December 2024. Chairman of the company, Jasper Nduagwuike,



