FBN General Insurance records N3.5bn premium in 2017

FBN General Insurance Ltd realised N3.52billion as Gross Premium Written (GPW) for
the year 2017, equivalent to a year-on-year growth of 60%. Likewise,
we recorded N323million as Profit Before Tax (PBT), representing
growth of 66% on the prior year’s performance. These gains are
largely due to our revised approach to business practices and
client engagement.
In addition, we optimised available resources to drive our
operational process which ensured that we gained traction
boosting our bottom-line for the period. We continued, within
the period, to efficiently manage our costs, by leveraging Group
shared services.
Our Company achieved steady improvement in our balance sheet
as total assets increased by 19% from N6.06billion recorded in
2016 to N7.24billion in 2017. Total equity also grew by 9% from
N4.10billion to N4.48billion.

May 19th, 2014

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