Niger Insurance To Pay N3.5k Dividend For 2013 Financial Year




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Niger Insurance To Pay N3.5k Dividend For 2013 Financial Year






Niger Insurance Plc

Niger Insurance To Pay N3.5k Dividend For 2013 Financial Year


— Jul 23, 2014 |
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The Niger Insurance Plc on Wednesday said the company would pay N3.5k per 50k ordinary share as dividend for the financial year ended Dec. 31, 2013.


The company’s Managing Director, Mr Kolapo Adedeji, made the disclosure at the company’s Pre-Annual General Meeting (AGM) news conference in Lagos.


According to him, the dividend will be paid to the shareholders once their AGM to be held in Ilorin, Kwara, approves its financial report.


“The transformation agenda we started five years ago has started yielding positive results.


“We have been able to review most of our business operations and in turn there are clear indices of improved operating performance.


“This is evident in our financials under review.


“The company’s Gross Premium Income in 2013 is N10.44 billion as against N10.33 billion in 2012.


“The Profit Before Tax (PBT) increased by 163 per cent in 2013 from N256.56 million recorded in 2012 to N674.30 million in 2013,” he said.


Adedeji said that its investment reduced by 33 per cent in 2013 from N975.37 million in 2012 to N649.50 million.


He said the shareholders fund increased to N7.88 billion in 2013 from N7.08 billion in 2012, while the total assets increased to N24.18 billion in 2013 from N21.73 billion in 2012.


The managing director said that the results were still subject to the approval of the shareholders at their AGM.


He said that the company was upgrading its information computer technology to integrate its regional and branch offices.


Adedeji said that the company had adopted e-payment systems for premium collection.


He said that the company had plans to launch new products as well as repackage the existing ones to suit its various customers.


Adedeji said that the company had shut down its offices in Bornu, Yobe and Adamawa states to ensure the safety of its staff.


He said that its customers in those areas were being serviced from other States.


Adedeji also said that the enforcement of “No Premium, No Cover” in 2012 helped the company to maintain good liquidity in 2013. (NAN)








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