Staco Insurance released its financial results for the nine months ended 30 September 2015.
The result showed that Gross Premium declined by 1% from N5.2 billion in Q3’2014 to N5.1 billion in Q3’2015.
Underwriting Profit also declined by 3% from N2.3 billion in Q3’2014 to N2.2 billion in Q3’2015.
See Summary of result below..
| STACO INSURANCE Q3 2015 | N’m | N’m | |
| Sep-15 | Sep-14 | % Change | |
| Gross Premium | 5,184 | 5,215 | -1% |
| Underwriting Profits | 2,250 | 2,310 | -3% |
| Other Income & Investment Income | 149 | 100 | 49% |
| Operating Expenses | -1,796 | -1,694 | 6% |
| Pre-tax profits | 437 | 557 | -22% |
| Profit After Tax | |||
| Share Price(As at Press time) |
Source: Nairametrics
