Sovereign Trust Insurance Plc has said its profit before tax rose by 17 per cent in the third quarter of 2021.
The Managing Director and Chief Executive Officer of the company, Mr Olaotan Soyinka, said the result reflected the realities of the times, adding that the company was undaunted and would continue to remain focused by keeping up with its obligations as a dynamic and responsive corporate entity. “The gross premium written also grew by 17 per cent from N8.4bn in 2020 to N9.8bn in 2021 third quarter.”
It said, “The company’s total assets also grew by 11 per cent in the period under review from N12.6bn in September of 2020 to N14bn in the corresponding period of 2021.
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