Mr. Tosin Runsewe, CCO, Mansard Insurance
The Chief Client Officer of Mansard Insurance Plc (formerly Guaranty Trust Assurance Plc), Mr. Tosin Runsewe, has assured stakeholders that the company would improve on its six months result in the remaining part of the year.
Mansard Insurance recently recorded 63 per cent growth in profit after tax for the half year ended June 30, 2012. The company recorded a profit after tax of N902.144 million in 2012, up from N555.06 million in the corresponding period of 2011.
However, Runsewe said: “We will strive to maintain this momentum till the end of the year, by leveraging the gains made in our investment portfolio and expansion of our retail distribution network.”
According to him, Mansard Insurance began the year with the strategic intent of completing its transition to a leading independent insurance company in Nigeria.
“We also set out to sustain our growth by focusing on key products and certain market segments while expanding retail distribution points. These impressive numbers are a testament to the success of our strategy.
With 63 per cent growth in profitability achieved against a backdrop of improvement in our underwriting performance, impressive and sustainable growth in investment Income and greater cost optimisation, Mansard Insurance has continued its development as a leading independent underwriter in Nigeria,” he said.
Speaking in the same vein, the Chief Financial Officer of the company, Rashidat Adebisi, said: “We are proud to announce that we are the first Insurance company operating in Nigeria to have a complete set of financials audited and published in line with the dictates of the International Financial and Reporting Standards (IFRS). This is another milestone in our history and a validation of our leadership position within the industry.”
Apart from recording a profit after tax of N902 million in first half of the year, Mansard Insurance also grew its total assets to N30.101 billion, up from N24.69 billion in 2011