The Managing Director and CEO, of UnityKapital Assurance, a leading insurance company, Mr. Michael Dogo, has disclosed an increase of 4.49% in gross premium income to N3,032,045,000 Billion as against N2,901,845,000 Billion the preceding year.
The company also witnessed a 14.6% increase in Net Premium Income of N2,509,209,000 Billion from N2,188,619,000 Billion the previous year with a profit After Tax of N141.477 Million recorded in 2014.
Dogo stated this in Abuja during the company’s Annual General Meeting (AGM).
“While the premium income for 2015 seems to be lower than the previous year, due to challenging national and economic circumstances, however, UnityKapital has repositioned itself to make mark on the Nigerian insurance industry,” he said.
“To expand on its retail market share, UnityKapital recently launched its free Insurance Mobile App on the Android and IOS operating systems. The App is a self-service insurance product that allows existing and prospective customers to purchase and manage their insurance policies from their smart phones at the comfort of their various locations,” he added.
Speaking on the regulatory order imposed on the company in 2015, Dogo said: “We recognize that the NAICOM Regulatory Order stirred up all sorts of unfounded rumours about the capacity and financial strength of the Company, but that order was done to quicken the pending divestment exercise.”
