Mutual Benefits Assurance reports N2.39bn profit in Q3’20

Mutual Benefits Assurance on Monday published its Third Quarter report for the period ended, 30 September 2020.

The underwriting firm in nine months achieved Gross Premium Written of N14.82 billion, up by 7.72% from N13.75 billion reported in 2019.

Profit after tax for the nine months period was N2.39 billion, down by 6.45% from N2.56 billion achieved in Q3’20.

Earnings per share (EPS) of the firm for the period under review dropped to 21 kobo from 23 kobo achieved in 2019.

With reference to the share price of N0.22, the P.E ratio of 1.03x is calculated for Mutual Benefit Assurance with earnings yield of 97.37%.

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