Mutual Benefit Assurance on Wednesday published its Audited Financial Statement for the year ended 31 December 2020. The report shows growth in the company’s top line and bottom line figures.
The Underwriting firm for the 12 months period reported Gross Premium Written of N19.983 billion, up by 6.88% from N18.698.
Profit after tax grew by 41.44% to N5.109 billion from N3.612 billion reported in 2019. A profit margin of 25.57% was achieved by for the Group for the period under review.
The earnings per share of the Group for the period under review increased to 46 kobo from the EPS of 32 kobo.
At the share price of 46 kobo, the P.E ratio of Mutual Benefit Assurance stands at 1x with earnings yield of 99.40%.