Sovereign Trust Insurance Plc releases half year result for 2015

Sovereign Trust Insurance Plc has released its 2015 half year unaudited operating results as at June 30, 2015 to the NSE with improvements in critical parameters, the harsh operating environment not withstanding.

The company was able to grow profit after tax by 14.8% (N650 million) from the 2014 figures. In the same vein, total assets and total equity grew by 5.2% and 25% respectively to close the half year results at N9.69 billion and N5 billion. The increase in issued capital from N3.131 billion in 2014 to N4.146 billion in 2015 accounted for the increase in equity over the period

Total liabilities went down by 11% from N5.148 billion in 2014 to N4.598 billion as at June 30, 2015.