*Universal Insurance Posts N4.1bn Premium Income, Deepens Retail Market*

Universal Insurance Plc recorded N4.1 billion premium income in the first half of 2022 ended 30th June 2022.

The figure, according to the company, is far above what was achieved in the whole of 2021.

The company’s premium income at the end of 2021 stood at N3.4 billion; while a total sum of N459 million was paid as claims.

The company’s report for second half of 2022 showed a profit after tax of N796 million and a total claims paid of N348 million.

The Managing Director/Chief Executive Officer, Universal Insurance Plc, Dr. Benedict Ujoatuonu, while speaking at the formal inauguration of the newly elected executives of the National Association of Insurance and Pension Correspondents (NAIPCO) which took place in Lagos at the weekend, stressed that the company has a mandate to deepen insurance penetration through the retail market.
Ujaotuonu, who was ably represented at the occasion by the company’s secretary and head of Corporate Communications department, Chinedu Onyilimba, said the performance was made possible as a result of aggressive moves to drive its business development especially by providing special tailor-made products in their retail operations.
“Our aggressive deployment of technology, especially in driving our retail operations as well as our business expansion which led to opening of new branches, enlargement of our marketing units which also led to the engagement of new staff made this possible,” the MD/CEO stated.
He said the company is poised to drive, achieve and surpass its N6.5 billion target set for 2022 despite harsh economic environment.
Ujaotuonu said, the company, as part of its strategy, will continue in its business expansion to meet its target of making its products and services available to its prospective customers across the nation, noting that the firm is expanding its investment and leveraging technology to drive its retail operations.
“We are also expanding our investment in and deploying technology especially in our retain operations, this will help us make our numerous tailor-made products accessible to the populace,” he said.
He pledged his company’s commitment to continue to collaborate with NAIPCO to advance the course of insurance and pension industry in the country.
The inauguration of NAIPCO new executives was jointly sponsored by Universal Insurance Plc, Anchor Insurance Limited, and Sovereign Trust Insurance Plc.

Another quarter ending. Equity portfolio/investment managers to book profits. Realized profits for Q3 reports.

essentialone:
*Universal Insurance Posts N4.1bn Premium Income, Deepens Retail Market*

Universal Insurance Plc recorded N4.1 billion premium income in the first half of 2022 ended 30th June 2022.

The figure, according to the company, is far above what was achieved in the whole of 2021.

The company’s premium income at the end of 2021 stood at N3.4 billion; while a total sum of N459 million was paid as claims.

The company’s report for second half of 2022 showed a profit after tax of N796 million and a total claims paid of N348 million.

The Managing Director/Chief Executive Officer, Universal Insurance Plc, Dr. Benedict Ujoatuonu, while speaking at the formal inauguration of the newly elected executives of the National Association of Insurance and Pension Correspondents (NAIPCO) which took place in Lagos at the weekend, stressed that the company has a mandate to deepen insurance penetration through the retail market.
Ujaotuonu, who was ably represented at the occasion by the company’s secretary and head of Corporate Communications department, Chinedu Onyilimba, said the performance was made possible as a result of aggressive moves to drive its business development especially by providing special tailor-made products in their retail operations.
“Our aggressive deployment of technology, especially in driving our retail operations as well as our business expansion which led to opening of new branches, enlargement of our marketing units which also led to the engagement of new staff made this possible,” the MD/CEO stated.
He said the company is poised to drive, achieve and surpass its N6.5 billion target set for 2022 despite harsh economic environment.
Ujaotuonu said, the company, as part of its strategy, will continue in its business expansion to meet its target of making its products and services available to its prospective customers across the nation, noting that the firm is expanding its investment and leveraging technology to drive its retail operations.
“We are also expanding our investment in and deploying technology especially in our retain operations, this will help us make our numerous tailor-made products accessible to the populace,” he said.
He pledged his company’s commitment to continue to collaborate with NAIPCO to advance the course of insurance and pension industry in the country.
The inauguration of NAIPCO new executives was jointly sponsored by Universal Insurance Plc, Anchor Insurance Limited, and Sovereign Trust Insurance Plc.

This stock has not moved from N0.20K in the past Six months.

OBAGADAFFI:


This stock has not moved from N0.20K in the past Six months.

It is gradually recovering from losses. It's a long term stock

Some MMF are now at 11% i guess that is why most investors are selling their stocks and moving to more stable and guaranteed returns assets

dry bones will rise again. take position while the promo last.

OBAGADAFFI:


This stock has not moved from N0.20K in the past Six months.

thesilentone:
17.50 area is important - it needs to hold but note it went below to 16.70 - after paying dividends.
Bottom fishers might get their heads handed to them. Although, it is starting to look oversold

How the market plays this new week will be important. Personally, I have stopped looking at past leaders

"Past leaders" how??

https://www.premiumtimesng.com/news/headlines/556141-sterling-bank-to-change-name-as-shareholders-approve-restructuring.html

How will this affect Sterling's share price? Could this be the reason for the high volumes seen some weeks ago?

In every market cycle, there are stocks that buck the general market trend.

Typically, everything falls in a falling market, though they come for the 'generals' last.

When a new cycle begins, most people look to the past leader(s) to lead - the default mistake for the uninitiated.

Given that the stock and the business are different things, our job is to identify the new leader and align.

Don't be like Lot's wife.

BigBashiru:


"Past leaders" how??

I wonder what GUINNESS and GTCO have in common? Could it be a slow and steady slide to the downside?

Maybe I am just speculating.

The concept of the closing price can be deceiving.

essentialone:
*Universal Insurance Posts N4.1bn Premium Income, Deepens Retail Market*

Universal Insurance Plc recorded N4.1 billion premium income in the first half of 2022 ended 30th June 2022.

The figure, according to the company, is far above what was achieved in the whole of 2021.

The company’s premium income at the end of 2021 stood at N3.4 billion; while a total sum of N459 million was paid as claims.

The company’s report for second half of 2022 showed a profit after tax of N796 million and a total claims paid of N348 million.

The Managing Director/Chief Executive Officer, Universal Insurance Plc, Dr. Benedict Ujoatuonu, while speaking at the formal inauguration of the newly elected executives of the National Association of Insurance and Pension Correspondents (NAIPCO) which took place in Lagos at the weekend, stressed that the company has a mandate to deepen insurance penetration through the retail market.
Ujaotuonu, who was ably represented at the occasion by the company’s secretary and head of Corporate Communications department, Chinedu Onyilimba, said the performance was made possible as a result of aggressive moves to drive its business development especially by providing special tailor-made products in their retail operations.
“Our aggressive deployment of technology, especially in driving our retail operations as well as our business expansion which led to opening of new branches, enlargement of our marketing units which also led to the engagement of new staff made this possible,” the MD/CEO stated.
He said the company is poised to drive, achieve and surpass its N6.5 billion target set for 2022 despite harsh economic environment.
Ujaotuonu said, the company, as part of its strategy, will continue in its business expansion to meet its target of making its products and services available to its prospective customers across the nation, noting that the firm is expanding its investment and leveraging technology to drive its retail operations.
“We are also expanding our investment in and deploying technology especially in our retain operations, this will help us make our numerous tailor-made products accessible to the populace,” he said.
He pledged his company’s commitment to continue to collaborate with NAIPCO to advance the course of insurance and pension industry in the country.
The inauguration of NAIPCO new executives was jointly sponsored by Universal Insurance Plc, Anchor Insurance Limited, and Sovereign Trust Insurance Plc.

I have 1.5m units that I'm willing to sell at a discount... anyone interested?

essentialone:


It is gradually recovering from losses. It's a long term stock

Interested in buying my 1.5m units at a discount ?
Appears you believe in the stock

sonofElElyon:


I have 1.5m units that I'm willing to sell at a discount... anyone interested?

How much do you want to sell?
Bid - 0.1

sonofElElyon:


Interested in buying my 1.5m units at a discount ?
Appears you believe in the stock

If you use Morgan Capital, we can deal

sonofElElyon:


I have 1.5m units that I'm willing to sell at a discount... anyone interested?

We can deal if your price is ok. My number on dp.

IYGEAL:


If you use Morgan Capital, we can deal

I use compass securities bro

IHelp:


How much do you want to sell?
Bid - 0.1

You try...

edwardaigb:


We can deal if your price is ok. My number on dp.

Ok

Mansard at 1.60k ,GTB and Transcorp is tempting me. What do you think house?
And reccomend stocks that are better if possible.

MANSARD 1.56, is now below Nominal value N2.

OBAGADAFFI:
MANSARD 1.56, is now below Nominal value N2.

With a Dividend yield of 15.63% @N1.60....
Whosoever will mistakingly see Mansard at N1.50 and didn't buy, is definitely not interested in Insurance sector or has fund issues.

yMcy56:

With a Dividend yield of 15.63% @N1.60....
Whosoever will mistakingly see Mansard at N1.50 and didn't buy, is definitely not interested in Insurance sector or has fund issues.

Cc: Edwardaigb

please what can you say about Mansard and Custodian

Huge crossings in VITAFOAM today @20 and 20.05.....
..
Just market observation, transactions are being carried out by insiders, it may or may not go below CP.

* Year End is September.
* Corporate Info usually comes out in Dec..
* Watching...

ZENITH: Quite some volumes ....

Mfunkynation:
please what can you say about Mansard and Custodian

Depends on your investment goals...
* Good for pick........
Mansard for Medium/Long termers......while Custodian is especially good for dividend hunters with long term in view.
Making use of low price opportunities in the market to be picking in tranches also good.

@1.60, Mansard is selling @0.40k (pre-reconstruction)
This is the same Mansard we queued to buy and 0.80k and couldn't get to buy that time.....if I still recollect very well). It's now selling @0.40k!

Post reconstruction opening price was 3.32 or so.....

yMcy56:

With a Dividend yield of 15.63% @N1.60....
Whosoever will mistakingly see Mansard at N1.50 and didn't buy, is definitely not interested in Insurance sector or has fund issues.

Cc: Edwardaigb

The issue with mansard is about their ability to pay what they paid last year as dividend going forward.
The half year result was disappointing to say the least. Investors don't like uncertainty.

pluto09:
The issue with mansard is about their ability to pay what they paid last year as dividend going forward.
The half year result was disappointing to say the least. Investors don't like uncertainty.

You're right sir.......but did you check Q2 or are you referring to Q2, 2022??
I know I'm an amateur but one thing I again look at is their peak periods too........but what do I know.
* Anyway, market already slashed the price into 2 so far....
* We may have to study the Q-Q results to have idea of their best Quarters and maybe draw inference from there first.......
Lol. Don't mind me, I already said I'm an amateur.

** Chai!! Can see why some don't believe in reconstruction....we hope the MM will wake up like in the case of NEM, Wema and Multiverse.
** Mansard shouldn't be trading below N2 at least..

Mfunkynation:

please what can you say about Mansard and Custodian

Custodian is far better than Mansard.

yMcy56:

With a Dividend yield of 15.63% @N1.60....
Whosoever will mistakingly see Mansard at N1.50 and didn't buy, is definitely not interested in Insurance sector or has fund issues.

Can they pay last year dividend?

https://doclib.ngxgroup.com/Financial_NewsDocs/36782_ROYAL_EXCHANGE_PLC%20_QUARTER_2_%20_FINANCIAL_STATEMENT_F.pdf


We hereby welcome back ROYALEX to the stock market.

Buy?
Sell? or
Hold?

essentialone:
https://doclib.ngxgroup.com/Financial_NewsDocs/36782_ROYAL_EXCHANGE_PLC%20_QUARTER_2_%20_FINANCIAL_STATEMENT_F.pdf


We hereby welcome back ROYALEX to the stock market.

Buy?
Sell? or
Hold?

Earnings Forecast of the same ROYALEX is as follows:

https://doclib.ngxgroup.com/Financial_NewsDocs/151_REPLC_4TH_QTR_2022_RE_PLC_EARNINGS_FORECAST.pdf

To all investors of University Press, the Earnings Forecast is as follows:

https://doclib.ngxgroup.com/Financial_NewsDocs/188_PROFIT_FORECAST_FOR_THE_THIRD_QUARTER_ENDING_31ST_DECEMBER_2022.pdf

MPR increased to 15.5%
This is no good news for NSE.