SUNO INSURANCE posts loss   
Oct 26 (Lagos) - Sunu Insurance Plc ( SUNUASSUR )formerly Equity Assurance Plc posted a loss of 416 million for first 9 months of 2018. 



Gross Premium income was 2.37 billion for the first nine months of 2018.



Most impressive in these results was the underwriting profit of 327 million for the group. 


Net Claims expense was 1 billion which led to the underwriting profit. The Re-Insurance strategy of Company was also impressive where they had N 1.6 billion Claims recoverable. 


However employee health benefits of 470 million and other operating expenses of 818 million led to the huge loss for the Group. 


There is some rumor about shake up in the management of the Company recently. The share are at all time lows of 20 kobo ( SUNUASSUR )per unit. The management will relieved after the suspension order against NAICOM's tier based directive which would have forced a re-capitalization drive from this Company and many others in the sector.  






reporting for easykobo.com on Friday, Oct 26 2018 from Lagos, Nigeria




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