• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, June 5, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Prudential Zenith grows profit by 18% in 2022

Insurance

The Matters Press by The Matters Press
July 8, 2023
Reading Time: 2 mins read
0
Prudential Zenith grows profit by 18% in 2022

Lagos, July 8, 2023: Prudential Zenith Life Insurance Ltd. (PZL) says it has recorded a profit after tax of N1.33 billion for the year ended Dec. 31, 2022.
The figure represented 18 per cent increase when compared to N1.131 billion recorded in 2021.

RELATED POSTS

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

The company said this in a statement signed by Mr Bob Ononu, Head, Corporate Communications, PZL and made available on Friday in Lagos.

Ononu said that the company’s audited financial results for the year under review were approved by PZL’s Board and the National Insurance Commission (NAICOM).

He stated that the result indicated that the firm achieved an impressive growth, despite a challenging business environment, characterised by rising inflation, deteriorating foreign exchange position and temporary cash shortages.

He noted that the reported financial growth was released one month after PZL celebrated 175 years with Prudential Plc. and the parent company’s eight Prudential Plc’s subsidiaries in Africa.

The company’s spokesperson stated that its top-line Gross Written Premium (GWP) declined by 15 per cent to N6.39 billion, compared to N7.5 billion in 2021.

He said the insurers underwriting costs were effectively managed, resulting in an eight per cent growth in underwriting profit while investment income grew by 28 per cent year-on-year.

According to him, the growth was due to a substantial increase in the company’s interest-generating assets.

Ononu said that the shareholders equity grew by 11 per cent to N1.34 billion, between 2022 and 2021, reflecting an increase in retained earnings.

“The 175-year milestone not only signifies Prudential’s rich heritage and enduring success, but also exemplifies the company’s commitment to continuous evolution and meeting the ever-changing needs of customers.
“Prudential has over the years transformed countless lives through innovative insurance solutions that empower individuals and businesses to achieve financial security and prosperity,” he said.

Commenting on the insurer’s 175 years celebration, Mr Chuks Igumbor,
Managing Director, PZL, appreciated its customers and staff, while urging them to always uphold the firm’s core values and strive to help customers get the best of life.

Prudential Plc is a leading provider of life and health insurance, as well as asset management services in 24 markets across Asia and Africa.

The insurance company promotes financial inclusion and ensures healthcare affordability and accessibility, protects individuals’ wealth, helps them grow their assets, and empowers them to save for their goals.

Tags: Prudential Zenith
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
Consumer commission, CBN, EFCC investigate violations in money lending

CBN encourages youths to venture in entrepreneurship

Food shortage: Nigeria bans foreigners from direct purchase of produce from farmers

Arab-Africa committee commits $1.5bn to food security programme

Recommended Stories

Shawwal crescent moon sighted, Tuesday is Sallah

June 3, 2019
Nigeria regains top crude oil production spot in Africa

IOC divestments: Expert tasks Africa on participation in upstream investment

October 10, 2022
Osinbajo to commission fashion shared facility in Kogi

Osinbajo to commission fashion shared facility in Kogi

May 18, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us