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Regency Insurance Records 667% Profit Regency Insurance Company Limited, a new generation underwriter, has posted N4.6 million profit after tax from its operations last year, while raising its shareholders' fund to N397 million within the same period. The company's after tax profit improved by 667 percent percent while its shareholders' fund increased by 258.2 percent. The company made this disclosure in its 2003 annual report unveiled at the company's 2004 Annual General Meeting in Lagos recently. Last year, the company's premium income less reinsurance stood at N171.47 million as against N156.08 million recorded the previous year, a 9.86 percent increase. The company's profit after tax peaked at N4.6 million last year, a 667 percent rise over the amount recorded the previous year, which stood at N0.6 million. The company also increased its paid-up share capital marginally by 2 percent from N100 million the previous year to N102 million last year as well as increase its life insurance fund from a N50,034,000 deficit in 2002 to N16.78 million as at the end of 2003 while its non-life insurance fund was grown from 67.82 million in 2002 to N74.74 million as at the end of 2003. The company's total assets was also grown by 129.08 percent from N231.79 million the previous year to N530.99 million last year. At the end of the year, the company has put in place a share deposit amounting to N256.85 million. Who Are We ? | About THISDAYOnLine.com | THISDAY People | Contact Us © Copyright 2000 Leaders & Company Limited

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