Leading insurance provider, SUNU Assurances Nigeria Plc, has announced a remarkable financial performance for the 2023 fiscal year. The company’s profit after tax soared to a staggering N2.5 billion, shattering initial budget projections.
In a demonstration of its commitment to policyholders, SUNU Assurances paid out an impressive N2.08 billion in claims during the same period, representing a significant 41.5% increase from the previous year. This substantial payout underscores the insurer’s dedication to supporting its customers in times of need.
The company’s exceptional financial results can be attributed to strategic business renewal and favorable premium rates in the fire and motor insurance segments. However, the economic climate had an impact on the increase in claims paid out.
0 Comments