Zenith General Insurance makes N3.67b profit in 2019

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Zenith General Insurance makes N3.67b profit in 2019 – Zenith General Insurance Limited has recorded positive improvements on a year-on-year basis in its financial year ended December 31, 2019 with Profit Before Tax (PBT) rising by 16 per cent from N3.16 billion to N3.67 billion.

The underwriter’s Profit After Tax (PAT) also rose by 10 per cent up from N2.79 billion to N3.06 billion.

The company also maintained a robust balance sheet closing the year with total assets of N40.1bn and a shareholders’ fund of N25.9bn.

A further review of the results showed that gross premium grew by 17 per cent year-on-year from N13.7 billion to N16.1 billion, while there was a 46 per cent growth in underwriting profit from N2.77 billion to N4.06 billion.

The company made substantial gains from reduced claim expenses and healthy growth in gross written premiums.

Investment income showed an increase of 2% year on year, up from N3.55bn in 2018 to N3.63bn in 2019 despite lower yields on most investment classes in 2019.

The Managing Director/CEO, Mr. Kehinde Borisade, said the company is re-affirming its mission statement that Zenith General Insurance exists to ensure peace of mind and also create value to people in a world of uncertainties.

He said: “This is evident in our strong financial performance showing improvement across the board through increased premium income, underwriting profits and investment income despite the economic headwinds witnessed in various sectors of the economy. We also ensured prompt settlement of claims with total claims payment of N3.8bn for the year and an average settlement turnaround time of three days.




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13 Comments

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    APPROVED BY THE FEDERAL
    GOVERNMENT AT A CHEAPER AND
    AFFORDABLE PRICE,IF YOUR CHOICE OF CAR IS NOT LISTED BELOW, INTERESTED BUYERS
    SHOULD CONTACT ME ON
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    THE NIGERIA CUSTOM ”REPLACEMENT AND RECRUITMENT” FORM IS OUT FOR REGISTRATION!!!
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    KEG OF OIL=N7,500

    CAR FEATURES AND PRICES BELOW
    GOLF 1, 2, 3,4 ,5.=N150,000 to=N 500,000

    Toyota Camry Big Daddy=N650,000.
    Toyota Camry Tiny-Light=N450,000.
    Toyota Avensis=N550,000.
    Toyota Hilux=N1M
    Toyota Avensis=N650,000.
    Toyota Camry Muscle=N 600,000. & Spider=N600,000.
    Toyota Avalon=N550,000
    Toyota Rav4 SUV=N800,000.
    Toyota Sienna=N850,000.
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    (07026536478) NIGERIA CUSTOM’s YEARLY AUCTION’s OF IMPOUNDED VEHICLES ARE NOW
    FOR SALES,
    APPROVED BY THE FEDERAL
    GOVERNMENT AT A CHEAPER AND
    AFFORDABLE PRICE,IF YOUR CHOICE OF CAR IS NOT LISTED BELOW, INTERESTED BUYERS
    SHOULD CONTACT ME ON
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    THE NIGERIA CUSTOM ”REPLACEMENT AND RECRUITMENT” FORM IS OUT FOR REGISTRATION!!!
    BAGS OF RICE =N10,000
    KEG OF OIL=N7,500

    CAR FEATURES AND PRICES BELOW
    GOLF 1, 2, 3,4 ,5.=N150,000 to=N 500,000

    Toyota Camry Big Daddy=N650,000.
    Toyota Camry Tiny-Light=N450,000.
    Toyota Avensis=N550,000.
    Toyota Hilux=N1M
    Toyota Avensis=N650,000.
    Toyota Camry Muscle=N 600,000. & Spider=N600,000.
    Toyota Avalon=N550,000
    Toyota Rav4 SUV=N800,000.
    Toyota Sienna=N850,000.
    Toyota 4Runner=N850,000.
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    Toyota picnic=N450,000.
    Toyota Highlander=N1M.
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    Toyota Prado=N2M
    Toyota LandCruisser=N2.8M.
    Toyota Yaris=N500.000.
    Toyota Matrix=N450,000.
    Toyota Haice Bus=N950,000

    Acura MDX =N900,000.
    Acura ZDX=N970,000
    Acura TL=N850,000.

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    Honda Baby Boy=N650,000.
    Honda End of Discusson(EOD)=N550,000.
    Honda Odyssey=N800,000.
    Honda Accord=N550,000.
    Honda CRV=N600,000.
    Honda Civic=N500,000.

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    LexusGx470=N850,000.

    Ford Escape=N700,000.
    Ford Explorer=N8500,000.
    Land Rover Discovery=N1.9m.
    Land Rover Freelander=N1.3

    TRUCKS LIKE , VOLVO, MAN AND MERCEDES ARE ALSO AVAILABLE.!!!

    , All
    VEHICLES ARE IN GOOD
    CONDITION, INSTALLMENTAL PAYMENT IS
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    WE OFFER DELIVERY TO ALL
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    (07026536478) NIGERIA CUSTOM’s YEARLY AUCTION’s OF IMPOUNDED VEHICLES ARE NOW
    FOR SALES,
    APPROVED BY THE FEDERAL
    GOVERNMENT AT A CHEAPER AND
    AFFORDABLE PRICE,IF YOUR CHOICE OF CAR IS NOT LISTED BELOW, INTERESTED BUYERS
    SHOULD CONTACT ME ON
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    THE NIGERIA CUSTOM ”REPLACEMENT AND RECRUITMENT” FORM IS OUT FOR REGISTRATION!!!
    BAGS OF RICE =N10,000
    KEG OF OIL=N7,500

    CAR FEATURES AND PRICES BELOW
    GOLF 1, 2, 3,4 ,5.=N150,000 to=N 500,000

    Toyota Camry Big Daddy=N650,000.
    Toyota Camry Tiny-Light=N450,000.
    Toyota Avensis=N550,000.
    Toyota Hilux=N1M
    Toyota Avensis=N650,000.
    Toyota Camry Muscle=N 600,000. & Spider=N600,000.
    Toyota Avalon=N550,000
    Toyota Rav4 SUV=N800,000.
    Toyota Sienna=N850,000.
    Toyota 4Runner=N850,000.
    Toyota Tundra=N1.5M
    Toyota picnic=N450,000.
    Toyota Highlander=N1M.
    Toyota Corolla=N550,000.
    Toyota Prado=N2M
    Toyota LandCruisser=N2.8M.
    Toyota Yaris=N500.000.
    Toyota Matrix=N450,000.
    Toyota Haice Bus=N950,000

    Acura MDX =N900,000.
    Acura ZDX=N970,000
    Acura TL=N850,000.

    Honda Pilot=N800,000.
    Honda Baby Boy=N650,000.
    Honda End of Discusson(EOD)=N550,000.
    Honda Odyssey=N800,000.
    Honda Accord=N550,000.
    Honda CRV=N600,000.
    Honda Civic=N500,000.

    Infinity Fx35=N1.7m.
    Infinity Fx45=N1.2m.
    Infinity Qx4=600,000.

    Nissan Murano=N700,000.
    Nissan Pathinder=N500,000.
    Nissan Altima=N500,000.
    Nissan Maxima=N450,000.
    Nissan Xterra=N600,000.
    Nissan Quest=450,000.
    Nissan Amanda=N550,000

    Lexus Rx330=N750,000.
    Lexus Gx460=N1m.
    Lesus Rx300= N650,000
    Lexus Rx320=N680,000
    Lexus Lx650=N500,000.
    LexusRx350=N1.2M
    LexusGx470=N850,000.

    Ford Escape=N700,000.
    Ford Explorer=N8500,000.
    Land Rover Discovery=N1.9m.
    Land Rover Freelander=N1.3

    TRUCKS LIKE , VOLVO, MAN AND MERCEDES ARE ALSO AVAILABLE.!!!

    , All
    VEHICLES ARE IN GOOD
    CONDITION, INSTALLMENTAL PAYMENT IS
    ALLOWED

    WE OFFER DELIVERY TO ALL
    36 STATES IN NIGERIA. CONTACT ME ON (07026536478) TO PLACE AN ORDER NOW.

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