Shareholders laud management of Linkage Assurance

Shareholders of Linkage Assurance Plc have commended the board and management of the insurer for their outstanding performance in the 2023 financial year.The shareholders, who expressed their excitement

over a 5-kobo dividend and bonus issue of one for 10 declared at the insurer’s 30th yearly general meeting, applauded the result given the challenges in the operating environment.

Speaking at the programme, Chairman of the board, Joshua Fumudoh, said despite the challenging operating environment, the insurer has achieved commendable results and will continue to pay dividends as the company continues in its current trajectory.

Fumudoh said the firm performance remained robust, with strong revenue growth, improved underwriting and prudent investment management, which contributed to enhanced profitability.

The underwriting firm, during the year under review, achieved a profit before tax (PBT) of N5.46 billion, a sharp increase from N1.87 billion in the previous year.

Its profit after tax PAT) was N5.28 billion, as against N1.75 billion in 2022, an increase of 203 per cent.The total assets of the company rose to N52.86 billion, from N38.79 billion in 2022, a 36 per cent increase.

Managing Director/CEO, Daniel Braie, in his remark at the AGM, said the company’s commitment to excellence and innovation remains steadfast.