April 13 (Lagos) - Guaranty Trust Assurance Plc declared its financial results for full year 2011 with gross premium earned increasing by 35% to N 6.8 billion in 2011. Underwriting profit increased by 24% to N 1.9 billion. Profit after tax increased by 45% to N 931 million in 2011 from N 643 million in 2010.

Total assets of the company grew by 23% to N 23 billion. Guaranty Trust Assurance Plc was previously a subsidiary of GT Bank Plc. Shares of the company closed yesterday at N 1.58 per share at the Nigerian Stock Exchange in Lagos.