Transformation puts ensure Insurance at profit table

Following a successful transformation, underwriting firm, ensure Insurance plc has returned to profitability amidst a challenging operating environment, according to figures from its Audited Financial Statement for the year ended December 2015.

The Company posted an underwriting profit of N344.29 million from an underwriting loss position of N22.83 million as the end of 2014.

The Financial statement also showed a drop in underwriting expenses by 71.49 percent (N487.42 million) in 2015 from N1.71 billion recorded in 2014, highlighting the technical efficiency of the underwriting team.

With the accelerated acceptance of the new products launched by the Company in the first quarter of 2016, there is great optimism that the coy will record even better performance, the Company has said.

“The timely release of this Financial Statement shows the Company’s intent to be transparent, comply with regulatory and ethical standards and also, the expertise and strength of its internal process after the recapitalization in the last quarter of 2014 and subsequent rebranding and restructuring of 2015.”

With focused investment in processes, technology, people and distribution, ensure looks set to be the most responsive and dynamic insurer in Nigeria, the Company assured.

MODESTUS ANAESORONYE