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06.06.2007 Business & Finance

CDH Insurance earns ¢33 billion

By Business & Financial Times
CDH Insurance earns ¢33 billion

CDH Insurance, currently tagged the fastest growing insurer by insurance industry watchers, raked a premium income of ¢33 billion in 2006 as against ¢14.2 billion the previous year.

According to the company's audited accounts released recently, general business contributed ¢25.7 as against ¢11.8 billion in 2005, while life generated an income of ¢7.3 billion from ¢2.4 billion previous year.

Claims paid in the general business portfolio rose from ¢1.01 billion in 2005 to ¢1.4 billion last year while life incurred jumped to ¢44.5 million form ¢12.9 million

Management expense in general business went up to ¢9.4 billion while life portfolio incurred ¢3.2 billion in the year under review.

General business made an underwriting profit of ¢1.6 billion improving from a loss of ¢2.8 billion in 2005.

Investment income of both class improved tremendously from ¢1.2 billion in 2005 to ¢2.1 billion in the year under review.