Business
Guranty Trust Assurance To List On Stock Exchange
The shares of Guranty Trust Assurance Plc (GTASSUR) are to be listed on the official list of the Nigeria Stock Exchange. This follows the approval of the compnay’s shares by the NSE quotation committee.
The company will list a total of 10 billion units of its shares by way of introduction to the public.
One of the most profitable companies in the insurance industry, GT. Assur’s Gross Premium Income over the last 5 years has risen from N136 million in 2004 to N4.14 billion in 2008. Also, the company’s profit before tax has also grown rapidly from a loss of N37 million in 2004 to a profit of N2.01 billion in 2008. With a growing market share of the industry,GTAssur’s CAGR (compounded Annual Growth Rate) currently stands at an impressive 98 per cent. The company recently paid a dividend of 15 kobo per share to its shareholders for the financial year –ended 2008. This represented a 150 per cent increase on the dividend payout in 2007.
Guranty Trust Assurance Plc is a provider of value-added service and products to discerning customers across the corporate and retail markets. It has established a wide distribution network via Bank assurance and agents whilst retaining strong relationships with leading insurance broking firms in the country. It has strong financial and a dynamic management team. These have been acknowledged consistently by its award of good risk ratings, the latest being an Aarisk rating by Agusto &Co which is the highest in rating assigned to an insurance company in Nigeria.
Guranty Trust Assurance Plc is a subsidiary of GT Bank.
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