Prestige Assurance Plc’s gross written premium rose to N7.01bn in the 2020 financial year from N6.13bn achieved in 2019.
The Managing Director, Prestige Assurance, Sarbeswar Sahoo, disclosed this during the company’s annual general meeting in Lagos.
He said despite the economic challenges in the country, the company was able to record growth.
He said the company’s net premium income increased from N3.21bn in 2019 to N3.48bn in 2020.
Shoos said, “Although the world is still battling with the pandemic and its effects on various sectors commendable, many businesses are cautiously optimistic of a more stable environment.
“Despite the challenging economic terrain, we were able to grow premium incomes and recorded strong profitability in the year.
“We remain committed to supporting customers with the right risk management solutions to ensure that businesses are well protected during and beyond this unstable period.”