MD/CEO Sunu Assurances

By Ngozi Onyeakusi— Sunu Assurances Nigeria Plc has made projections for its third quarter 2021 with  gross written premium projected at N3.81 billion, representing 86.79% of the full year budget and a 42.12% growth over N2.68 billion generated in the corresponding period 2020.
However, the profit after tax projection of N168.597 million was 8.58% lower than N184.425 million projected for the Q2.

According to the firm, gross claims incurred relating to 2021 businesses were projected based on 5 years average loss ratio.

Investment income arising from the placement with banks and fixed interest Government securities was projected at an average of 5% per annum. WorldStage earlier reported Sunu Assurances earnings forecast for the second quarter 2021 with gross written premium projected at N2.74 billion representing 62.41% of the full year budget.