Law Union & Rock Insurance Records 217% Rise In Profits

Law Union & Rock Insurance released its Q3’2015 financial results.

The result showed that Gross Premium dropped by 9% from N3.5 billion in Q3’2014 to N3.2 billion in Q3’2015. Underwriting profits however rose by 59% from N686 million in Q3’2014 to N1 billion in Q3’2015.

See Summary of result below…

EQUITY ASSURANCE Q3 2015 N’m N’m
Sep-15 Sep-14 % Change
Gross Premium 3,252 3,588 -9%
Underwriting Profits 1,089 686 59%
Other Income & Investment Income 303 247 23%
Operating Expenses -799 -759 5%
Pre-tax profits 664 210 216%
Profit After Tax 564 178 217%
Share Price(As at Press time)  N0.54

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Source: Nairametrics