Universal Insurance Plc has projected to generate a premium income of N20 billion for the 2024 financial year in spite of the country’s harsh operating environment.Mr Ben Ujoatuonu, Managing Director, Universal Insurance, disclosed this at a media briefing on Wednesday in Lagos.
Ujoatuonu confirmed that all the company’s indices were showing positive, adding that the underwriter would continue to sustain the tempo.
He also revealed that the company grew its assets from N11 billion in 2022 to N17 billion in 2023, adding that its premium income and profit for the 2023 financial year stood at N9.3 billion and more than N530 million respectively.
”This year 2024, we started out with very high expectations and also looking forward to opening more branches.
“In 2024, we are projecting to end the year with a premium income of about N20 billion.
“We are very optimistic that we are going to achieve this before the end of the year, and it may interest you to know that as at today, we are doing about N9.3 billion in premium income.
”Our assets will also increase from N11 billion to about N17.5 billion and our shareholders fund will increase from about N9 billion to N12 billion”, he said.
