Mutual Benefits Assurance back to profit in H1 2022

Mutual Benefits Assurance has posted a 20.3% increase in its half-yearly turnover. The premium volume has climbed from 15.34 billion NGN (37.29 million USD) as at 30 June 2021 to 18.45 billion NGN (44.39 million USD) a year later.

After incurring a net loss of 1.9 billion NGN (4.62 million USD) in H1 2021, the Nigerian insurer has returned to profit as at 30 June 2022. On that date, the company's net profit reached 3.5 billion NGN (8.42 million USD).