Lasaco Assurance Plc has earmarked a growth in its profit to N375.23 million during first quarter
of 2021. The amount represents a 60% increase from the figure recorded in Q3 2020.
This is according to the firm’s recent earnings forecast sent to the Nigerian Stock Exchange market.
The earnings forecast released by the firm for Q1 2021 showed that the Head Office will contribute highest to Gross Premium projections with N2.45 billion (45%), followed by FCT/
Northern region with N870.3 million, and the direct business segment with N761.6 million.
The aforementioned segments make up the top three in terms of projected contributions to Gross
Premium.
Others include South-South Region (N380.8 million), South West (N108.8 million), Special
project (N108.8 million) and Agency (N54 million).
Highlights of the forecast shows that Gross premium is expected to increase to N5.44 billion
(+72.1%) Quarter on quarter; Investment income is expected to decline to N112.5 million (-46.13%) Quarter on quarter.
Also, underwriting expenses is expected to decline to N567.4 million (-6.4%) Quarter on
quarterNet claims paid is expected to decline to N652 million (-53.9%) Quarter on quarter while
Net premium increased to N4.05 billion (+94.51%) Quarter on quarter.
