Prestige Assurance Plc. has projected to achieve N10.500 billion gross premium written for the third quarter ending September 2022.
The insurance firm also projected N1.520 billion as profit. AXA-Mansard’s projection for net premium income stood at N5.460 billion while net operating income for the period was N2.496 billion.
According to the management of Prestige Assurance in a statement, “the profit forecast is based on the following assumptions: that there will be no serious Government restrictions on trade that will affect the insurance business; the company will not suffer any major catastrophe which will necessitate liquidation of investment portfolio for claims payment;
The management noted further that “a part of the proceed from recapitalization will be invest in government gilts to enhance investment income; there shall be no protest, pandemic and other
pandemonium which might affect business transactions negatively.
-Nairametrics