INTERNATIONAL ENERGY INSURANCE PLC INTERNATIONAL ENERGY INSURANCE PLC QUARTERLY PROFIT FORECAST 1st Quarter 2023
Quarter Ending: | Q1 2023 | |
N'000 | ||
Gross Premium Written | 1,060,000 | |
Changes in Unexpired Risk | (29,150) | |
Gross Premium Income | 1,030,850 | |
Reinsurance cost | (68,569) | |
Net premium earned | 962,281 | |
Commission earned | 34,437 | |
Underwriting income | 996,718 | |
Claims Incurred | (250,425) | |
Acquisition Cost (Commission Expense) | (159,000) | |
Maintenance Expenses | (86,125) | |
Underwriting profit | 501,168 | |
Management expenses | (477,164) | |
Operating profit | 24,004 | |
Interest and investment income | 19,693 | |
Fair Value gain/(loss) on investment | 3,997 | |
Other Income | 1,240 | |
Profit/(loss) before taxation | 48,934 | |
Taxation | (15,659) | |
Profit/(loss) after taxation | 33,275 | |
Transfer to contigency reserves | (31,800) | |
Profit for the period | 1,475 |
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International Energy Insurance plc published this content on 29 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 November 2022 10:50:00 UTC.
