Veritas Kapital Assurance Plc has announced a remarkable financial performance in the third quarter of 2024, achieving a 117% year-on-year increase in profit after tax, growing from ₦697.8 million in Q3 2023 to an impressive ₦2.339 billion this year 2024.
This substantial growth reflects the company’s focused strategy on enhancing operational efficiency, shareholder value, and delivering an exceptional experience for its customers.
The results highlight Veritas Kapital’s robust financial foundation, with significant year-on-year growth in key metrics. Net insurance and investment results increased by 168%, reaching ₦4.030 billion, while insurance revenue expanded by a notable 425%, moving from ₦3.068 billion to ₦16.099 billion.
Gross Premium Written (GPW) also saw an impressive uptick, climbing from ₦4.087 billion in Q3 2023 to ₦18.540 billion in Q3 2024, marking a positive trajectory in the company’s financial health and market standing.
Dr. Adaobi Nwakuche,…
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