ANCHOR INSURANCE DECLARES 3KOBO DIVIDEND, RECORDS IMPROVEMENT IN KEY INDICES One of Nigeria’s fastest growing insurance companies, Anchor Insurance weekend, declared 3kobo dividend payout, per share to its shareholders in the on-going investment year. The dividend which is above 2.5kobo approved and paid to its shareholders in the year ended represents 20 per cent growth in the performance of the company. This was achievable notwithstanding the global economic performance. Chairman, Board of Directors, Chief Senas Ukpanah announced this last Friday during the 24th Annual General Meeting (AGM) held at Le’ Meridian Ibom Hotel and Golf Resort in Uyo. He said despite challenges in the operating environment, the company has been able to record a fair growth in some key indices in 2013. According to him “Gross Premium Income, which increased by 7 per cent, stood at N1.93Billion in 2013 against N1.8Billion in 2012”. Others are; amount of gross claims paid was N301 Million in 2013 against N249Million in 2012 showing an ascending 21 per cent growth in gross claim. A situation stakeholders said, was an indication of the company’s capacity to meet claims as at and when due, while investment income improved by 24 per cent from N117 million in 2012 to N147 million in 2013. Chief Ukpanah, however assured the shareholders that, the company would continue to place emphasis on viable investment outlets within the provisions of the Insurance Act and Regulatory pronouncements. Although Chief Ukpanah lamented the sharp drop in the profit before taxation from N450Million in 2012 to N268Million in 2013, he attributed the short fall to the National Insurance Commission’s (NAICOM) to write off all outstanding premium debts in the wake of the new “No Premium No cover Regulations” saying, the board was in support of the initiative which enhances balance sheet and liquidity. Meanwhile, the total company asset is put at N4.93Billion as at the time of this review showing an increase of 9 per cent, while shareholders fund edged up to N4.15billion in 2013 against N3.93 billion in 2012 representing 5.6 per cent improvement in shareholders wealth.
Posted on: Sun, 26 Oct 2014 19:04:41 +0000