FBN General Insurance Limited witnessed an impressive growth during its 2019 financial year, the Managing Director/Chief Executive Officer of the company, Mr. Bode Opadokun, has said.
At the Fourth Annual General Meeting (AGM) of the company in Lagos, Opadokun said they grew their Gross Premium Written (GPW) by 58 per cent from N4.63 billion in 2018 to N7.31 billion last year.
He stated that the company also recorded a 19 per cent increase in Profit Before Tax (PBT) of N733 million compared to N615 billion recorded in 2018.
He said they also achieved 17 per cent growth in its total assets in 2019, translating to N11 billion as against N9.4 billion recorded in 2018.
He added that the company ensured prompt claims payment of N2.3 billion to customers during the year.
On the results and future outlook of the company, the Chairman of the company, Mr. Gbenga Shobo, said: “We are pleased with our 2019 financial year end results. We will continue to ensure the growth trajectory is sustained in 2020 financial year. While we anticipate some improvements along key macroeconomic fundamentals, we shall deploy strategies aimed at optimising the inherent opportunities within the economy.
“We are quite optimistic that 2020 will be the best so far for our shareholders and esteemed customers in the history of FBN General Insurance Limited. With the advent of the dreaded pandemic ravaging the globe, the company will continue to break new grounds, adapt to changes and relentlessly remain innovative in delivering value to its shareholders and customers.”
