SUNU Assurances Nigeria Plc has sustained revenue growth in the third quarter of 2022, recording a 577 percent rise in profit before tax (PBT).
PBT rose to N374.728 million in Q3 2022 from N55.378 million recorded in Q3 2021, showing N319.35 million growth.
The underwriter’s Gross Premium Written (GPW) and Gross Premium Income (GPI) stood at N4.62 billion and N3.86 billion respectively. This shows an increase of N594.276 million in GPW and N698.027 million in GPI respectively representing 15 per cent and 22 per cent growth above Q3 2021.
Underwriting profit also increased to N1.297 billion in Q3, 2022, from N941.857 million in Q3 2021, representing N355.181 million or 38 per cent growth.
The company also fulfilled its obligation to clients with claims payment amounting to N1.14 billion in Q3 2022 as against N2.2 billion paid in Q3 2021.
The Managing Director/CEO of the company said: “We were able to achieve impressive performance due to support from the SUNU group.
