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Staco Insurance gross premium up 3.46% in 2014

Nigeria’s Insurer, Staco Insurance Plc has reported a 3.46 percent growth in its gross premium for the review period of 2014.

A notice from the company to the Nigerian Stock Exchange shows that the risk firm gross premium increased from N5.674 billion in 2013 end to N5.963 billion recorded in the review period of 2014.

However its pretax profit for the year ended December 31, 2014 dropped to N137.68 million from N570.01 million recorded a year earlier, this showing a decline of 76 percent.

Profit after tax (PAT) also declined to N95.98 million from N481.33 million reported in the same period of 2013, this indicating a drop of 80.06 percent.

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