Staco Insurance Gross Premium Hits N5.40 Billion In 2016

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Yemisi Izuora

Staco Insurance Plc has grown its shareholders fund from N3.4 billion in 2015 to N3.8 billion in 2016, representing a10.33 per cent increase.

The company also posted a gross premium of N5.40 billion in 2016 while net premium earned stood at N3.59 billion as well as paid N1.99 billion claims in the 2016 operating year, of which a substantial part was paid in dollars.

Its Chairman, Prince Samuel Turoti, who made this known at the firm’s Annual General Meeting (AGM) in Lagos, said despite short comings resulting from high exchange rate the company’s board and management were committed to improving fortunes of the firm by continuously delivering value and positively affecting lives of shareholders and leveraging best practices.

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