Corporate Head Office: Guinea Insurance House, 33, Ikorodu Road, Jibowu, P.O.Box 1136, Marina, Lagos E-mail: info@guineainsurance.com, Website: www.guineainsurance.com, Tel: +234-1-2934575, 2934577
Authorised and Regulated by the National Insurance Commission RIC NO. 017
FORECAST INCOME STATEMENT FOR THE 4TH QUARTER | TOTAL | |
ENDING 31ST DECEMBER, 2022 | =N=' 000 | |
Gross premium written | 2,125,000 | |
Changes in unearned premium | (127,500) | |
Gross premium income | 1,997,500 | |
Reinsurance expenses | (361,250) | |
Net premium income | 1,636,250 | |
Fees and commission income on reinsurance | 322,363 | |
Net underwriting Income | 1,958,613 | |
Claims expenses | (510,000) | |
Underwriting expenses | (331,002) | |
Underwriting profit | 1,117,611 | |
Investment Income | 169,735 | |
Fair value gains on investment properties | - | |
Other operating income/(loss) | - | |
Impairment (charge)/reversal | - | |
Finance cost | - | |
Other operating expenses | (1,037,177) | |
Profit/(Loss) before taxation | 250,169 | |
Income tax (expense)/credit | (80,054) | |
Profit/(Loss) after taxation | 170,115 |
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Guinea Insurance plc published this content on 28 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 September 2022 20:05:01 UTC.