By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-African Alliance Insurance Plc, Friday posted a loss of N3.15.4 million for the audited period ended December 31, 2012.

A review of the 2012 audited report of the company released to the Nigerian stock exchange (NSE) in Lagos Nigeria and made available to InvestAdvocate, post-tax profit in 2011 end was a negative of N894.591 million compared to a negative N315.375 million declared in 2012 audited period.

Similarly, pre-tax profit also was on the negative as the insurance firm recorded a loss of N152.405 million in the review period of 2012 compared to a negative of N970.088 million declared in 2011 end.

However, gross premium appreciated from N1.827 billion in 2011 end to N3.392 billion in the audited period of 2012; showing a growth in gross premium of 85.7 percent.

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-LASACO Assurance Plc, Monday reported a decline in post-tax profit of -185.1 percent (-185.1%) in the 2012 audited report as the insurance company recorded a loss of N255.024 million.

To record the -185.1% decline in post-tax profit, the company in 2012 end made a negative of N255.024 million compared to N299.711 million in the corresponding period of 2011.

Pre-tax profit also dipped by -136% as LASACO Assurance reported a negative N180.090 million compared to N500.310 million recorded in the same period of 2011.

However, gross profit increased from N3.988 billion in 2011 end to N4.437 billion in the review period of 2012; indicating an increase of 11.3%.

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