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Niger Insurance PAT Shrinks to N139m in Q1

By Modupe Gbadeyanka

Niger Insurance Plc has released its audited financial statements first the quarter of the year, which ended on March 31, 2017.

During the period, its profit after tax dropped to N139 million from N158.5 million achieved in the corresponding period of 2016.

In the same vein, its net operating profit before tax stood at N146.5 million as at March 31, 2017 versus N165 million a year ago.

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It was a similar situation for the insurance firm’s net premium income, which closed at N1.47 billion on March 31, 2017, in contrast to N1.99 billion 12 months ago.

In the financial statements, Niger Insurance Plc said its net cash outflow from investing activities was N81 million compared with the N105.6 million loss declared in the corresponding period of 2016.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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