Breaking News
Translate

NSE lifts suspension on shares of Universal Insurance

By Rosemary Onuoha

The Nigerian Stock Exchange (NSE) has lifted the suspension placed on the trading on shares of the Universal Insurance Plc.

Nigerian Stock Exchange
Nigerian Stock Exchange

With this development, trading on the company’s shares would resume on the floor of the NSE  forthwith as the dealing members have been duly informed.

Buhari did not lift 5m Nigerians out of poverty – CENTREP(Opens in a new browser tab)

In a notification  posted on its website, the NSE  stated: “Universal Insurance Plc, one of the eleven (11) companies that were suspended on 2nd of  July 2019, has now filed its Audited Financial Statements for the year ended 31 December 2018 with The Exchange.

“In view of the Company’s submission of its Audited Financial Statements, and pursuant to Rule 3.3 of the Default Filing Rules, which provides that: “The suspension of trading in the Issuer’s securities shall be lifted upon submission of the relevant accounts provided. The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

AXA Mansard supports children’s financial literacy(Opens in a new browser tab)

“Dealing members are hereby notified that the suspension placed on trading on the shares of Universal Insurance Plc was lifted today, Wednesday, 7 August 2019”, the statement added.

Managing Director and Chief Executive Officer (MD/CEO) of the Company, Mr. Ben Ujoatuonu said the company has been able to increase the numbers by growing premium income by over 130 per cent from N700 million in 2017 to over N1.6 billion in 2018.

“We have developed a full-fledged retail unit with requisite qualified personnel to man it and also expanded our marketing unit,” he said.

Vanguard

All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.