By Favour Nnabugwu
Insurance industry’s total assets hit N2.13 trillion at the end 2021, according the National Insurance Commission, Naicom .
Head, Corporate Communications and Market Development, NAICOM, Mr Rasaaq Salami who released the figure gave the total assets of N2,139,203,39 trillion for 2021.
The industry also generated a gross premium income of N630,362.35 billion in the same period whilst the net claims settled stood at N238,050,49 billion for 2021.
Insurance companies in the previous to year 2020 raked in gross premium income of N238,050.49bn
The insurance industry assets has experienced a 16per cent increase from N1.8 trillion in June 2020 to N2.09 trillion as of September 2021,
As reported, the sector’s total assets rose by N228.24 billion or 16per cent from N1.8 trillion in June 2020 to N2.09 trillion as of September 2021.
Similarly, the industry’s assets rose from N1.16 trillion as of the end of December 2017 to N1.26 trillion and N1.45 trillion as of the end of December 2018 and 2019, respectively