BUSINESS

Coronation Insurance Loses N1.11b In Q3 2021

Coronation Insurance Plc, formerly Wapic Insurance Plc has released its unaudited interim financial statements for the period ended 30 September 2021 with a slip into group loss after tax of N1.11 billion in third quarter (Q3) from N338.297 million profit in 2020.

The group loss for nine months stood at N711.125 million from N992.739 profit in 2020.

Moreover, group gross written premium for Q3 dropped to N2.752 billion from N3.924 billion while the figure nine months dropped to N11.066 billion from N13.264 billion in 2020.

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