{"id":40926,"date":"2020-06-22T10:27:49","date_gmt":"2020-06-22T09:27:49","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=40926"},"modified":"2020-06-22T10:27:49","modified_gmt":"2020-06-22T09:27:49","slug":"fbn-general-insurance-writes-n7-31bn-premium-in-2019","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/fbn-general-insurance-writes-n7-31bn-premium-in-2019\/","title":{"rendered":"FBN General Insurance Writes N7.31bn Premium In 2019"},"content":{"rendered":"<p>FBN General Insurance Ltd, at its 4th Annual General Meeting (AGM)which held recently, presented its 2019 audited Annual Report and Financial Statement to its Board of Directors.<\/p>\n<p>While presenting the Annual Report\u00a0and Financial Statement\u00a0during the virtual Meeting, the Managing Director\/Chief Executive Officer of the company, Mr. Bode Opadokun, disclosed that the company witnessed an impressive growth along key metrics and across major lines during the financial year.<\/p>\n<p>According to Mr. Opadokun, \u2018\u2019 We grew\u00a0our\u00a0Gross Premium Written (GPW) by 58%\u00a0from\u00a0<s>N<\/s>4.63 billion in 2018 to\u00a0<s>N<\/s>7.31 billion in 2019. We also recorded a 19%\u00a0increase in Profit Before Tax (PBT) of\u00a0<s>N<\/s>733 million compared to\u00a0<s>N<\/s>615 billion recorded in 2018.\u2019\u2019<\/p>\n<p>Further analysis showed that the company achieved 17%\u00a0growth in its total assets in 2019, translating to\u00a0<s>N<\/s>11 billion\u00a0as\u00a0against\u00a0<s>N<\/s>9.4 billion recorded in 2018. The company also ensured prompt claims payment to its customers during the year to the tune of\u00a0<s>N<\/s>2.3 billion.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>Commenting on the results and future outlook of the company, the Chairman of the company, Mr. Gbenga Shobo\u00a0remarked, \u201cWe are pleased with our 2019 financial year end results. We will continue to ensure the growth trajectory is sustained in 2020 financial year. While we anticipate some improvements along key macroeconomic fundamentals, we shall\u00a0deploy\u00a0strategies aimed at optimizing the inherent opportunities within the economy. We are quite optimistic that year 2020 will be the best so far for our shareholders and esteemed customers in the history of FBN General Insurance Ltd\u201d.<\/p>\n<p>Speaking further, Mr. Shobo stated that with the advent of the dreaded pandemic ravaging the globe, the company will continue to break new grounds, adapt to changes and relentlessly remain innovative in delivering value to its shareholders and customers.<\/p>\n<p>FBN General Insurance Limited, a subsidiary of FBNInsurance Limited, wholly owned by\u00a0the\u00a0Sanlam Group, South Africa, was incorporated in 2014 to transact general insurance business in Nigeria with branches across\u00a0the country.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>FBN General Insurance Ltd, at its 4th Annual General Meeting (AGM)which held recently, presented its 2019 audited Annual Report and Financial Statement to its Board of Directors.<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":40927,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[5537],"coauthors":[2391],"class_list":["post-40926","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-fbn-general-insurance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - 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