Despite worries about the harsh business environment, four underwriting firms were able to pool about N130.62 billion in gross written premium out of total gross premium revenue of N630.4 billion generated by the industry in 2021, The Guardian has gathered.
Speaking on the performance, the Managing Director and Chief Executive Officer, AIICO insurance, Babatunde Fajemirokun, said: “Our half-year results are a testament to the resilience of our business model”. The Chief Financial Officer, AXA Mansard Insurance, Ngozi Ola-Israel, said: “We delivered double-digit revenue growth of 21 per cent year-on-year , which was N45.1billion up from N37.2 billion and 31 per cent YoY net premium income growth from 17.4b to 22.7b in the first half of the year despite tough macro-economic conditions.”
We are strengthening all our underwriting and claims management processes while continuing to excel in our investment performance where we grew 94% YoY.
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