Vanguard News Nigeria

Shareholders of Linkage Assurance to get 5k dividend

From left, Managing Director/CEO, Linkage Assurance Plc, Dr. Pius Apere; Director, Mrs Obafunke Alade-Adeyefa; MD, GrandUnion Insurance Brokers Ltd, Mr. Frank Egona; Miss Insurance 2016, Adaeze Okeke, and Director, Linkage Assurance, Mr. Inam Udo Udoma.

Shareholders of Linkage Assurance Plc will get dividend payment of five kobo per share for the 2017 financial year. Chairman of the company, Joshua Bernard Fumudoh who announced it at the 24th Annual General Meeting in Lagos said that it recorded a gross premium written of N4.1 billion against N4.03 billion in 2016.

He said that profit before tax rose by 218 percent to N2.9 billion from N942.7 million, while profit after tax also appreciated by 431 percent to N2.9 billion in 2017. This is as total assets appreciated by 15 percent to N23.3 billion in 2017, from N20.3 billion in the previous year.

He noted that the company was determined to take advantage of developments in the economy by developing strategic initiatives such as deployment of online portal for selling of motor insurance, as well as repositioning its bouquet of retail products like the Third Party Plus (a budget friendly motor insurance plan) to ensure sustainable growth for the company in 2018 and beyond.

“Continuous growth in customer satisfaction, productive sales in the market and impeccable underwriting and risk management practices will set us up for achievable greatness in 2018, the chairman said. Acting Managing Director of the company, Daniel Braie, said the company will continue to refine its strategy in line with the political, economic, sociological and technological changes in the industry.

“Also we will continue to develop innovative products, alternative channels of distribution and strategic initiatives that will enable us achieve our corporate goals and objectives.

With a medium-to-long term perspective, we believe that we will benefit from growth in these initiatives”, Braie said.

 

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