A revenue of N810 million has been posted by Coronation Insurance coverage after tax within the first quarter of 2022, which signifies a 27% improve in comparison with the N639 it reported within the first quarter of final 12 months.
In keeping with the report, the rise was as a result of again of considerably improved earnings for the interval. In the course of the interval in view, the insurer raked greater than it did a 12 months in the past.Learn Additionally
Nevertheless, the corporate additionally skilled a rise within the costs of products and providers, inflicting the insurer to put up its revenue in tens of millions although its premium earnings was in billion.
The insurer spent greater than it did throughout the identical interval final 12 months due to its extreme spending the interval which was attributable to inflation. As well as, a slowdown in earnings stage additionally affected the revenue stage.