VERITAS KAPITAL ASSURANCE PROFIT GROWS OVER N2BN
Veritas Kapital Assurance Plc reported a significant increase in its post-tax profit, rising to N2.75 billion in 2023 from N712.43 million in the previous year. The company's IFRS 17-compliant audited financial results, filed with the Nigerian Exchange Limited, revealed this growth. Managing Director/CEO, Dr. Adaobi Nwakuche, attributed the success to strategic business decisions, judicious underwriting, and investments. Total assets grew by 43% to N24.68 billion, while shareholders' funds increased by 31% to N16.37 billion. Insurance revenue also saw a 41% rise, reaching N7.10 billion in 2023.
Veritas Kapital Assurance Plc reported a significant increase in its post-tax profit, rising to N2.75 billion in 2023 from N712.43 million in the previous year. The company's IFRS 17-compliant audited financial results, filed with the Nigerian Exchange Limited, revealed this growth. Managing Director/CEO, Dr. Adaobi Nwakuche, attributed the success to strategic business decisions, judicious underwriting, and investments. Total assets grew by 43% to N24.68 billion, while shareholders' funds increased by 31% to N16.37 billion. Insurance revenue also saw a 41% rise, reaching N7.10 billion in 2023.