At the end of its emergency board meeting, the board of directors of Royal Exchange approved the 12-month financial statement for the period ended
Key extracts of the report showed that the top-line dropped from N15.86 billion in 2018 to N14.89 billion in 2019. As against pre-tax profit of N326.87 million in 2018, pre-tax loss stood at N158.22 million in 2019.
After taxes, net loss increased from N156.18 million to N215.34 million in 2019. Loss per share thus increased from 3 kobo in 2018 to 4 kobo in 2019.
The Nation had reported that the directors of the insurance-led investment group were having an emergency meeting on the accounts.
Under the rules at the
The deadline for submission is thus
An investment fund set up by the German government recently acquired 39.25 per cent in
The investment fund-
The proceeds of the acquisition would help REGIC to spur growth by increasing its risk capital and supporting its underwriting capacity in agriculture, thus extending its outreach to low income farmers.
Based in Luxembourg, IIF was set up by KfW, the
The objective of IIF is to contribute to adaptation to climate change by improving access to and the use of insurance in developing countries.
© Pakistan Press International, source