By InvestAdvocate

Lagos (INVESTADVOCATE)-Standard Alliance Insurance Plc, operating in the Insurance sector of the Nigerian Stock Exchange (NSE) has declared a loss of N8.551 billion in the Audited period ended December 31 2010.

This was contained in the Result Announcement Friday of the Insurance Firm, obtained by www.investadvocateng.com in Lagos Nigeria.

To report the loss, Standard Alliance Insurance Profit After Tax (PAT) was a negative N8.551 billion in year 2010 compared with N5.858 billion recorded in year 2009 end; indicating a further loss of 46 percent (-46%) in review period.

While Profit Before Tax (PBT) also went from a negative N1.016 billion in year 2009 end to N1.986 billion in the Audited period ended December 31 2010; showing a loss of -295.5%.

However, Gross Premium increased from N3.185 in 2009 end to N3.782 billion in the review period; representing an increase of 19.8%.