saw a profit decline of 22 per cent for the financial year 2021 even when its revenue increased by more than a quarter, according to its unaudited financials issued on Sunday.
But earnings took a battering from operating expenses after claims expenses spiralled by N7.8 billion to N29 billion and the cash paid by the underwriter to re-insure itself for the year jumped 34.3 per cent.
Source: Insurance Report (insurancereport.net)
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