Saham Unitrust Insurance Nigeria Limited has recorded N429.9 million underwriting profit in 2016 financial period.
The insurance company also within the period expanded its business operations to new markets.
The company’s financials also show that its net claims expenses also stood at N355.2 million at the end of 2016, attesting to its ability to respond to claims emanating from its policyholders.
The Managing Director of the company, Mr. John Ijerheime, said the company is positively looking ahead for better future adding that despite the challenges in the operating environment, the company delivered an impressive underwriting result in the year under review.
“We will continue to consolidate on our achievements and strategically grow our market share in the industry through our innovative policies and sound underwriting principles,” he said.
Ijerheime said that, the Group is currently involved in property management business while also developing its capacity for expansion in the industry.
He noted that the Group’s investment is in accordance with its investment policy, which is compliant with regulatory requirements.