Wapic Insurance declares N214m profit in 2019 Audited Report

Wapic Insurance Plc on Wednesday published its audited financial report for the year ended 31 December 2019 on the website of the Nigerian Stock Exchange.

The underwriting firm in 2019 reported a turnover (Gross Premium Written) of N15.2 billion, up by 9.42% when compared to the turnover of N13.89 billion reported in 2018 year end.

Wapic Insurance reported a profit after tax of N214.327 million, down by 38.97% when compared to the profit after tax of N315.193 million in 2018.

The earnings per share (EPS) of Wapic Insurance for FY’19 financial year is evaluated as 1 kobo, using the ratio of its Profit after tax to Shares Outstanding of 23,991,679,506.

With reference to the share price of N0.31, the P.E ratio of Wapic Insurance is calculated as 34.70x with earnings yield of 2.88%.

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