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Veritas Kapital’s Profit Soars 630 Percent

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3 meses ago

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Veritas Kapital Assurance Plc just announced some amazing news! They reported a massive 630 percent increase in their profits for the first half of 2024.

Last year, they made N672.4 million, but this year, that number skyrocketed to an incredible N4.908 billion. That’s a huge jump!

Their Managing Director and CEO, Dr Adaobi Nwakuche, expressed her excitement about this record-setting performance. She believes this success clearly shows that Veritas Kapital Assurance is dedicated to providing exceptional value to everyone involved.

When looking at their other financial figures, it’s clear they’ve had a fantastic period. Their net insurance and investment results grew by 425 percent, jumping from N1.243 billion in 2023 to N6.523 billion in 2024.

Insurance revenue also saw significant growth. It went up by 350 percent, from N2.201 billion in 2023 to N9.908 billion in 2024.

Additionally, the Gross Written Premium (GWP) leaped by 330 percent, rising from N2.921 billion in 2023 to N12.574 billion in 2024.

Rachel Adams

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