Standard Alliance Insurance Plc has declared a loss of N2.080 billion in its 2014 financial year report.
According to financial statements for the year ended 31 December 2014 released to the Nigerian Stock Exchange on Friday in Lagos, Standard Alliance Insurance recorded loss after tax of N2.080 billion in 2014 from a loss of N880.942 million it made in 2013.
Similarly, profit before tax dipped from N789.73 million in the audited period of 2013 to N1.982 billion in the review period of 2014.
Its gross premium increased from N3.79 billion in 2013 to N4.33 billion in the review period of 2014; indicating an increase of 14.3 per cent.
Standard Alliance Insurance total assets dropped by 12 per cent from N8.788 billion in 2013 to N7.721 billion in 2014 financial year result.
Also, total liabilities during the period rose to N4.303 billion from N4.011 billion it made during the 2013.
The shareholders fund depreciated by N1.360 billion during the 2014 financial year from N4.777 billion in 2013 to end 2014 at N3.417 billion.
