Mutual Benefit Assurance declares N1.98bn loss in Q2 2021

Mutual Benefit Assurance on Wednesday published its Second Quarter report for the period ended 30 June 2021.

Gross Premium Written of N15.340 billion was reported for the six months period, up by 50.88% from N10.167 billion reported Q2 2020.

The underwriting firm declared a loss after tax of N1.984 billion as against the profit after tax of N1.567 billion reported the previous year.

Earnings per share of the firm declined to -10 kobo from the EPS of 8 kobo achieved the previous year.

At the share price of 37 kobo, the P.E ratio of Mutual Benefit Assurance stands at -3.74x with earnings yield of -26.73%.

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