Niger Insurance Plc released its financial results for Q1 and Q2 2015 respectively.
The Q1’2015 result showed Profit after tax rose by 84% from N186 million to N342 million, while in Q2’2015 Profit after tax rose by 127% from N228 million to N518 million.
See Summary of result below..
| NIGER INSURANCE Q1 2015 | N’m | N’m | |
| Mar-15 | Mar-14 | % Change | |
| Gross Premium | 3,048 | 3,079 | -1% |
| Underwriting Profits | 1,107 | 970 | 14% |
| Other Income & Investment Income | 96 | 113 | -15% |
| Operating Expenses | -1,604 | -1,672 | -4% |
| Pre-tax profits | 377 | 240 | 57% |
| Profit After Tax | 342 | 186 | 84% |
| Share Price(As at Press time) | |||
| NIGER INSURANCE Q2 2015 | N’m | N’m | |
| Jun-15 | Jun-14 | % Change | |
| Gross Premium | 6,167 | 5,606 | 10% |
| Underwriting Profits | 1,959 | 1,684 | 16% |
| Other Income & Investment Income | 336 | 194 | 73% |
| Operating Expenses | 3,735 | 3,361 | 11% |
| Pre-tax profits | 568 | 293 | 94% |
| Profit After Tax | 518 | 228 | 127% |
| Share Price(As at Press time) |