By Opeyemi Issa InvestAdvocate

Lagos (INVESTADVOCATE)-Guaranty Trust Assurance Plc (GTAssure) and Continental Reinsurance Plc (Continental Re) Monday announced they will reward investors of their Companies with 8 Kobo dividend respectively in their Audited Report for the Period Ended December 31 2011.

First GTAssure said its Qualification Date is April 16 2012 and Closure Date is April 17 2012.

Also, the Insurance Company has scheduled its Annual General Meeting (AGM) in Lagos Nigeria and payment date of the 8 Kobo dividend for April 27 2012 respectively.  

On its part, Continental Re said its Qualification Date is July 06 2012, while Closure Date is July 09 to 13 2012.

Starting with a review of the Financial Analysis of GTAssure, Profit After Tax (PAT) increased from N643.646 million in year 2010 end compared to N931.574 million in 2011 end; representing an increase of 44.7 percent (44.7%).

Profit Before Tax (PBT) also grew from N1.017 billion in year 2010 to N1.257 billion in year 2011 end; indicating a growth of 23.6% in the review period.

Gross Premium Written increased from N7.520 billion in year 2010 compared to N10.004 billion in 2011 end; indicating an increase of 33.0%.

On its part, Continental Re posted a PAT of N1.232 billion in the Audited Period of Year 2011 compared to N1.230 billion in year 2010 end; showing a 0.2% profit.

The Reinsurance Company also recorded a PBT of 0.7% as the Company posted N1.596 in 2011 end compared to N1.585 billion in year 2010.

While Gross Premium slipped from N10.253 billion in 2010 end compared to N9.484 billion in year 2011; indicating a slip of 0.7% in the review period.