Linkage Assurance’s gross premium rises by 34%

27/06/2022 11:32:00 PM

Linkage Assurance’s gross premium rises by 34%

Gross Premium, Linkage Assurance

Linkage Assurance ’s gross premium rises by 34%

Linkage Assurance Plc has disclosed that its gross premium written rose by 34 per cent in the 2021 financial year.

Presenting the company’s 2021 financial report during its 28th annual general meeting in Lagos, the Chairman of the board, Joshua Fumudoh, said growth in revenue could not translate to profitability because of huge claims that hit the company in 2021, including the

#EndSARSprotest losses.Fumudoh said, “The aftermath of the 2020 #EndSARS protest took a toll on the insurance industry and Linkage was not exempted. The total#EndSARSclaims for the insurance industry was about N20bn while Linkage Assurance Plc exposure was N1.1bn.” He said the company was proud to have met its obligations to customers by enabling them to return to their business despite the huge losses.

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Linkage Assurance gets new non-executive director Presenting the company’s 2021 financial report during its 28th annual general meeting in Lagos, the Chairman of the board, Joshua Fumudoh, said growth in revenue could not translate to profitability because of huge claims that hit the company in 2021, including the #EndSARS protest losses.in the country and support the Nigeria National Broadband Plan 2020-2025...

Fumudoh said, “The aftermath of the 2020 #EndSARS protest took a toll on the insurance industry and Linkage was not exempted. The total #EndSARS claims for the insurance industry was about N20bn while Linkage Assurance Plc exposure was N1. The meeting discussed developments in the telecoms sector in Nigeria, including the country’s progress in updating subscribers’ SIM registration records with national identification numbers (NINs).1bn.” He said the company was proud to have met its obligations to customers by enabling them to return to their business despite the huge losses. He added that they will serve as the foundation of the country’s digital economy, which he noted was beginning to scale. In addition to #EndSARS, he said there were other two major claims in 2021, which had provisions of N1.

5bn and N750m that were already paid. Mupita updated the minister on MTN Nigeria’s contribution of servers to the National Identity Management Commission (NIMC), which is part of MTN’s efforts to accelerate NIN registration. Tags: Linkage Assurance Kindly share this story: All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH. Contact: .