The unaudited financial report of Universal Insurance Plc for the full Year ended December 31st, 2020 revealed a growth in Gross Premium Written of about 80%, closing the period at N3.378 billion against the previous close of N1.870 billion in the full year of 2019.
The Insurance Company recorded a significant growth of over 1600% in Profit after Tax to settle at N1.136billion in the current period against the profit after tax of N65 million recorded in 2019.
The earnings per share (EPS) for the period under review consequently grew by 1645% from the previous EPS of 0 kobo in Full Year, 2019 to 7 kobo in 2020. With reference to the share price of N0.20, the PE ratio of Universal Insurance Plc in FY’2020 stands at 2.82x with earnings yield of 35.50%