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)

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