Coronation Insurance posts N1.2bn profit in FY’20

Coronation Insurance Plc (formerly Wapic Insurance) on Monday published its Audited Financial Statement for the year ended, 31 December 2020.

The Group reported Gross Premium Written of N16.186 billion, up by 6.48% from N15.201 billion reported in 2019.

Profit after tax for the 12 month period was N1.202 billion, up by 460.9% from N214.327 million reported in 2019.

Earnings per share (EPS) of the underwriting firm increased to 5 kobo from the EPS of 1 kobo.

At the share price of N0.59, the P.E ratio of Coronation Insurance stands at 11.77x with earnings yield of 8.49%.

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