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| MANSARD INSURANCE LOGO |
Shareholders of Mansard Insurance Plc have lauded the board
and management of the company for its impressive 2013 financial performance.
The insurance firm ended the 2013 with 31 per cent growth in
profit after tax and paid a dividend of eight kobo per share in an industry
that some companies failed to pay dividend.
Buy speaking at the annual general meeting in Lagos, the
shareholders commended the performance. For instance, Alhaja Ayodele Kudaisi of
Independent Shareholders Association of Nigeria (ISAN) said: “We are happy to
receive this result from you despite the ‘No Premium, No Cover’ enforcement.
In his speech, Chairman of Mansard Insurance, Mr. Victor
Gbolade Oshibodu, said the company grew gross premium written to N13.59
billion, from N12.44 billion in 2012.
Profit after tax rose from N1.6 billion to N2.1 billion.
Explaining the eight kobo dividend, Oshibodu said it was in
line with the company’s assurance to
continually deliver exceptional value to shareholders.
Commenting on the results, Chief Client Officer of Mansard Insurance, Mr. Tosin Runsewe, said “we achieved growth
in a difficult year where the industry experienced a decline in growth rate
which was stifled by ‘No Premium, No Cover’ regulation.
According to him, overall,
the company achieved 31 per
cent increase in net earnings as a
result of significant growth in income from our increasingly diversified
investment base.
Speaking in the same vein,
Chief Financial Officer of the company, Rashidat Adebisi said: “This is
the first time since our renaissance that we would record single digit growth,
but we understand the difficulties of 2013.
She said the company found 2013 financial year interesting
as retail business was a major driver of both revenue and profit.
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