Mutual Benefits Assurance Posts N20bn Premium, N5.1bn Profit

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Goddy Egene

Mutual Benefits Assurance Plc has reported a profit before tax of N5.114 billion for the year ended December 31, 2020, up from N3.772 billion recorded in 2019. Details of the unaudited results showed that insurance firm posted gross premium written of N20.194 billion in 2020, compared with N18.698 billion in 2019. Net underwritten income stood at N16.7 billion, while profit after tax printed at N4.548 billion as against N3.612 billion.