Linkage Assurance Forecasts N3.8bn Insurance Revenue in Q4
Linkage Assurance Plc has forecasted insurance revenue to reach about N3.8 billion in the fourth quarter of 2024, details from its regulatory filing show. The Insurance Company revealed in its earnings forecast that profit after tax will rest at N103 million in the final quarter of 2024 as a result heavy cost load on its operations.
Insurance service expense is expected to consume more than 64% of Linkage Assurance revenue in the last quarter of the year. Also, the allocation of reinsurance premiums is expected to gulp about N1.43 billion in the same period.
Linkage Assurance expected N1.03 billion as net operating income between Oct and December 2024. However, the company revealed plan to spend sizeable amount from the income on operations.
Management forecasted that in the fourth quarter of 2024, operating expenses would click at about N924 billion, leaving the Assurance company with N109 million pre-tax profit.
The company, however, expects to have about N6 billion in cash balance at the end of the period. The insurance stock was trading flat in the equity market on Monday at 98 kobo.
“Pursuant to Section 64 of the Investments and Securities Act, 2007, we hereby certify that we have reviewed the Earnings Forecast of Linkage Assurance PLC for the Fourth Quarter Ending 31 December 2024 and the underlying assumptions. We confirm our satisfaction with the Earnings Forecast for the Fourth Quarter Ending 31 December 2024 and the underlying assumptions”, the company wrote. #Linkage Assurance Forecasts N3.8bn Insurance Revenue in Q4
