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The Law Union & Rock Insurance Plc ended the 2016 financial year with N3.935 billion gross premium, up from N3.858 billion. The company grew its profit before tax (PBT) by 101 per cent, from N328 million in 2015 to N658 million in 2016, while total assets rose from N8.580 billion while shareholders’ funds grew by 13.03 per cent from N4.45 billion to N5.039 billion.
Addressing the shareholders at the 48th annual general meeting (AGM) of the company in Lagos, the Chairman of Law Union & Rock Insurance, Mr. Remi Babalola, said the company recorded marginal increase its top-line and significant growth in its bottom-line.
Babalola said: “If you look at the performance of the company in 2016, you will realise that the company is doing better every year. Since 2012 we have been doing better than other years. The company had a very good brand, but faced some challenge which made things not go very well for them.
