Goldlink Insurance Grows Profit To N696m

Goldlink Insurance Plc has announced a 27percent profit increase in the third quarter of the year.  The profit increased from N549milliion to N696million.
According to the Managing Director, Mr. Femi Okunniyi, the company's profit after tax also rose by 26percent, from N490million to N620million in the nine months period.
One interesting thing about this landmark increase is that this third quarter earnings is already higher than the company’s earnings generated in 2007.
Also, Goldlink Insurance  recorded an increase in shareholders funds from N5.9billion in 2007 to N7.3billion in 2008.  He added that this positive development will further boost the confidence of investors in Goldlink Insurance.
The underwriting firm has distinguished itself in core insurance areas like life, marine, engineering, group personal accident, and workmen compensation. Others are fire, and consequential loss.
The company is a composite insurance company underwriting all classes of insurance which also include all risk, Household/house owner policies and other general and specialized businesses.


Standard Alliance Profit Hits N1.7bn

Standard Alliance Insurance Plc which has a vision to be the clear leader in the provision of risk management insurance and investment services in Africa has announced a 263 percent increase in its profit after tax in the third quarter of the year.  The company recorded a N1.07billion increase as against the N257.4million achieved last year.
The company also recorded a 241percent profit before tax of N1.18bilion, as against the N302.25million which it posted at same time next year.
According to the Group Managing Director, Mr. Bode Akinboye, the company will surpass this level by next year.  He based this on the conviction that the company's strategic investment in other non-insurance, subsidiaries; like life insurance, mortgage banking, asset management, properties Pension Fund Administration (PFA) would soon begin to yield supporting capital to transform the dream into reality.
“Despite the prevailing financial crisis, the company was able to perform above”.
Standard Alliance Insurance also earned a written premium of N2.06billion, which translates to a 31percent increase.
The all-round increase also touched the shareholders fund which has increased from N6.51billion in 2007 to N24.16billion.  This increase in shareholders fund represents a whopping 269 percent increase.
The company's unaudited report also indicated a 119percent improvement from N45.21million to N109.66million in the tax provision made at same third quarter of last year.


Oasis Insurance Makes N121.4m Profit In Q3

Oasis Insurance Plc has announced an increase in its profit, which rose from N8.40million to N121.40milloion as at September 30, 2008, representing a 49 percent rise.
Disclosing this recently, the Managing Director, Mr. Babatunde Oshadiya said Oasis was poised to beat its last year's earnings. This is based on the fast increase as shown by the premium income which rose from N626.70million to N380.20million recorded last year.
This represents an increase of 64.82percent.
Oshadiya who assumed duty recently as Managing Director, took over from his former boss, Segun Durojiaye.
In the determination of the new CEO to excel, he pledged that the company's goal would be attained as it remaisn committed to providing first-class services.
This he intends to discharge  through innovative products, efficient service delivery and Information Communication Technology (ICT)
For Oasis to achieve its set goals, the company will engender this envisaged rapid growth through beating competitive edges.  Mr.  Oshadiya said the company will “engender this envisaged rapid growth; adding that it has to take steps above competition and drive competition towards achieving needed capital for this purpose”.
Oshadiya added that Oasis would seek to raise more capital by seeking shareholders “approval to offer shares by way of rights issues and initial public offering”.
The new CEO pledged that the company “would continually provide innovative products and prompt service-delivery to clients in a professional and responsible manner” He added that “our commitment to reach the next level and consolidate our position in the industry, remains a priority”.
Oasis Insurance Plc was incorporated in November 1992 but commenced active business in October 1993.
The company's gross premium for 2006 was N292,784,000 while its total assets in 2006 was N944,739,000 all of which have increased tremendously.