Veritas Kapital Assurance Profit Up 630% in H1 2024

Ebere Nwoji

Veritas Kapital Assurance Plc, said it recorded a remarkable increase of 630 percent in profit in the first half (h1) of 2024.

The company said its profit grew from N672.4 million in H1 2023 to an astounding N4.908 billion in H1 2024, marking an extraordinary year-on year growth of 630 per cent.

The Managing Director/CEO of Veritas Kapital Assurance, Dr Adaobi Nwakuche expressing her feelings on the performance said she was confidence that this   unprecedented financial success underscores Veritas Kapital Assurance’s unwavering commitment to delivering unparalleled value to its stakeholders. 

The net insurance and investment results saw a remarkable growth of 425 percent leaping from N1.243 billion in the same period last year (2023) to N6.523 billion in 2024. 

Insurance revenue also experienced a significant boost, increasing by 350 per cent from N2.201 billion in 2023 to N9.908 billion in 2024. 

She said moreover the Gross Written Premium (GWP) showed a substantial 330 improvement, rising from N2.921 billion in 2023 to N12.574 billion in 2024.