Yemisi Izuora
Unitrust Insurance Company Limited, has reported revenue of ₦6.9 Billion, for the year 2023 showing a 30 per cent increase compared to ₦5.3 Billion recorded in 2022
The milestones across its financial metrics, reinforces its position as a leading player in the insurance industry and this also followed doption of the new IFRS 17 standards.
This growth is attributed to improvement in service delivery, customer, and strategic expansion into new market segments.
Unitrust successfully navigated the storming macroeconomics environment in 2023 by deploying cost optimization and initiatives to deliver Profit Before Tax of ₦2.4 Billion and Profit After Tax of N1.7 billion from N178 Million Profit Before Tax and N185 Million Profit After Tax in 2022, showing a remarkable growth of 1,264 per cent and 858 percent, respectively. This robust performance is a testament to the operational efficiency and prudent investment strategies.
Also, in keeping to its commitment of delivering prompt settlement of claims, Unitrust paid N3.2 billion claims in 2023.
In 2023, Unitrust embarked on several strategic initiatives aimed at driving growth and enhancing customer experience and ensured commitment to sustainable business practices.
The Company is optimistic about future growth and committed to offering its numerous customers quality service delivery.