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Sovereign Trust Grows Income By 37% In First Quarter

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Sola

The total Gross Premium written by Sovereign Trust Insurance Plc in the first quarter of 2022 amounted to N7.35b while in 2021, the total Gross Premium written was put at N5.37b in the same period under review, giving a 37% growth rate over the performance of 2021.

Profit Before Tax grew by 19% in the first quarter of 2022 to the sum of N609m as against the sum of N510m in the same corresponding period of 2021, while Profit After Tax rose from N392m in the first quarter of 2021 to N489m in Q1 of 2022, with a growth rate of 25% respectively. The Total Equity also grew by 12% from N9b in the first quarter of 2021 to N10.1b in the same corresponding period of 2022.

Due to the Company’s improved claims administration and processes backed by top-notch technology, the claims payout in the first quarter of 2022 stood at N946m as against the figure of N1.26b paid on claims in the same corresponding period of 2021, while the Net Claims Expense also reduced by 16% from N965m in the first quarter of 2021 to N808m in the first quarter of 2022.

Earnings per Share grew from 3.45kobo in Q1 of 2021 to 4.3kobo in the same corresponding period of 2022. The Net Assets per Share also grew from 79.4kobo in the first quarter of 2021 to 88.9kobo in Q1 of 2022.

Notwithstanding the harsh operating environment that has beclouded the operations of so many insurance companies and other corporate organizations in the first quarter of the year especially at a period when the country is preparing for another general election come 2023, Sovereign Trust Insurance Plc has been able to record meaningful appreciation in all its financial indices going by its first quarter unaudited financial statements. The future indeed, looks very promising.

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Insurance

The Advantages of Making Use Of Neteller for Online Casino Sites

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On the internet gambling establishments have actually come to be increasingly popular recently, giving a convenient and available way for gamers to appreciate their favored casino sit mobil online kaszinóe games from the comfort of their very own homes. With advancements in modern technology, on the internet casinos (more…)

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Best Online Gambling Enterprises that Approve Mastercard

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Mastercard is one of one of the most extensively approved repayment approaches at on-line gambling establishments all over the world. With its simple and protected purchases, many gamers prefer utilizing Mastercard for their on-line betting activities. In this article, we will present you to the best online gambling establishments that accept Mastercard (more…)

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IMT 2025 Edition Names Former McKinsey Partner As Speaker

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By Sola Alabadan

The fourth edition of Insurance Meets Tech (IMT), a conference focusing on the convergence of insurance and technology, is scheduled to hold on September 11 in Lagos.
With the theme, “Innovating for the New Trybe,” IMT 4.0 will convene stakeholders across the financial, tech, and creative ecosystems, redefining how insurance meets digital innovation, lifestyle, and Africa’s future economy. This year’s edition will once again deliver a powerful dual-experience format:
IMT 4.0, the flagship C-suite and policy-focused discourse
IMT Redefined 2.0, the youth-forward segment exploring the convergence of insurance, culture, and innovation.
The 2025 headline speaker is Per Lagerström, a global thought leader, an insurtech innovator, financial expert, and entrepreneur with over 30 years of experience across financial services, technology, FMCG, and strategy consulting. A former Partner at McKinsey & Company, he founded BehaviorTech, a groundbreaking field that merges behavioural science, AI, and innovation to deliver transformative outcomes for people, businesses, and society.
As CEO of Yellowspot, an Ireland-based venture studio, he leads the development of disruptive ventures focused on financial planning, education, longevity, and human-centred digital transformation. Known for navigating complexity with clarity, Per has advised boards and executives across Europe, Africa, and the Americas. His work is driven by an unrelenting passion for unlocking potential at the intersection of science, technology, and human insight.
Odion Aleobua, Convener of IMT and CEO of Modion Communications, expressed his delight ahead of the event. “We are incredibly honoured to welcome Per Lagerström to Lagos, Nigeria for IMT 4.0. His experience at the cutting edge of behaviour-tech research, an astute financial guru and huge insight into insurtech innovation align with the conversations we drive at this year’s conference. IMT is about the future of protection for a new generation, and we are convening voices and celebrating ideas that matter.”
IMT 4.0 will also continue to explore the role of predictive technology, embedded insurance, disruptive underwriting, and inclusive innovation. With engaging panels, immersive workshops, product demos, and youth-led showcases, the event promises actionable insights and bold ideas for building relevance in a shifting risk landscape.
Commenting, Per Lagerström stated, “Financial services are undergoing rapid and fundamental change, driven by AI inflection and BehaviorTech advances, blurring industry boundaries and shifting consumer behaviours. The result places incumbent business models under tremendous pressure and create unrivaled opportunities for growth and value creation. I am excited to join the year’s edition of IMT to unpack the forces at work and share my playbook for navigating these extraordinary times.”
IMT 4.0 proudly announces an early strategic partner powering this year’s event. CubeCover, one of Nigeria’s leading insurtech and microinsurance providers, comes aboard as a proud Gold Sponsor, racing ahead as early co-travelers for this year’s edition.
To register for IMT 2025, visit www.insurancemeetstech.com. For inquiries, contact Odion at +234 902 222 2226.
About Insurance Meets Tech (IMT)
The Insurance Meets Tech (IMT) Conference is one of West Africa’s leading platforms for exploring the future of insurance through the lens of technology, innovation, and culture.
In its fourth year, IMT offers a robust, multi-stakeholder, two-pronged experience featuring IMT 4.0, focused on C-suite insights, and IMT Redefined, a dynamic youth engagement segment inspired by innovation, lifestyle and creativity. IMT is curated by Modion Communications, one of Africa’s most celebrated young Public Relations consultancies.

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