Linkage Assurance Grows Profit by 58%

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Ebere Nwoji

With 58 per cent growth in its net profit, underwriting firm, Linkage Assurance Plc has promised its shareholders better returns on investment under the new management team led by the Managing Director, Dr. Pius Apere.

Apere, recently took over the leadership baton of Linkage Assurance from its erstwhile Managing Director, Godwin Wiggle.

Apere, who informed the shareholders at the company’s 22nd Annual General Meeting held in Lagos, that the era of non-payment of dividend was over, also assured that the future looked bright for the company.

He said the result of the company’s restructuring was beginning to impact on her overall performance, adding that bad days are over for the company. He also assured that shareholders will soon start to earn dividends.

“We have got to the end of the tunnel where dividend will start coming,” Apere assured.
He disclosed that the figures from 2016 unaudited accounts of the company as well as expected dividend from its investment would put smiles on the faces of shareholders.

According to him, for optimum performance, Linkage Assurance had strengthened its human capital with new heads of department, while its marketing team had also been beefed up with top flight insurance marketers and the results coming are fantastic.

“We have gone past the time when we measure our performance based on gross premium, we are now measuring based on bottom line. Going forward, there will be an improved communication between our company and the shareholders so that all of us will keep pace with developments in the company,” Apere stated.

Earlier, the chairman of the company, John Eseimohkumoh disclosed the performance of the company in 2015, saying its gross premium grew by 24 per cent from N3.05 billion in 2014 to N3.79 billion, while net premium rose by 25 per cent to close N2.44 billion at the end of 2015.

Eseimohkumoh, further disclosed that investment and other incomes rose by 26 per cent from N1.19 billion in 2014, to N1.50 billion in the year under review.
Profit before tax also grew by 60 per cent from N580.85 million in 2014, to N929 million, while profit after tax closed at N512.24 million, a growth of 58 per cent.