By Rosemary Iwunze

Capital Express Assurance Limited recorded a profit after tax of N90.68 million in the financial year ended December 2021, a 33.6 per cent growth from N67.88 million in 2020.

The company also grew total equity by 16.6 per cent to N6.26 billion from N5.37 billion.

Chairman of the company, Mr. Ademola Adenuga, who disclosed this at the company’s Annual General Meeting in Lagos, noted that total assets rose to N12.858 billion in the year 2021.

He stated that despite the challenges occasioned by the COVID-19 pandemic, the company remained resilient, delivering growth in total assets and profits respectively in the year 2021.

He added: “Claims expenses increased marginally to N2.98 billion, while prompt settlement of claims is our flagship and we will continue to forge ahead in this regard.”

Also speaking at the AGM, MD/Chief Executive Officer, Mrs Adebola Odukale, informed the gathering that Capital Express introduced its mobile app and USSD channels to make it easy for the insuring public to get life insurance covers and easily process their claims.

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