Universal Insurance reports N2.33bn as turnover, PAT rises by 300.58% in Q1

Universal Insurance Plc has published its First Quarter report for the period ended 31 March 2022.

The underwriting firm achieved significant growth in its topline and bottom line figures year on year.

Gross Premium Written of N2.33 billion was reported for the 3 months period, up by 47.60% from N1.58 billion reported the previous year.

Profit after tax grew by 300.58% to N674 million from N168.29 million reported in Q1 2021. Earnings per share increased significantly to 4 kobo from the EPS of 1 kobo.

At the share price of 20 kobo, the P/E ratio of Universal Insurance stands at 4.75x with earnings yield of 21.07%.   

Source: Universal Insurance reports N2.33bn as turnover, PAT rises by 300.58% in Q1 – StocksWatch (stocksng.com)

Related Posts


Business & Economy

Capital Hotels sells 51% of its shares to 22 Hospitality Ltd

Capital Hotels Plc has notified its Shareholders and other Stakeholders that 22 Hospitality Ltd has successfully acquired 1,611,995,510 Ordinary Shares of 50 kobo each representing 51% of the equity share capital of the Company through Private Placement. All the required regulatory approvals have been received for the transaction. In addition, 22 Hospitality Limited also bought 456,641,337, and […]

Business & Economy

Union Bank partners Wacot Rice Limited to empower local farmers

In a bid to aid the financial inclusion drive of farmers in Kebbi State, Union Bank has entered into partnership with Wacot Rice Limited, a rice processing company. According to the bank the partnership is aimed to financially include 6,000 local farmers. This will include the youths and women in Kebbi State.  “The Kebbi Financial Inclusion Drive[…]