Magazine date:
Jan 2011 Standard Alliance Insurance has reported a turnover of 3.3 billion NGN (22.2 million USD) in 2009, that is, a 10% increase compared to the previous year. The underwriting result has risen from 1.5 billion NGN (10.8 million USD) in 2008 to 1.8 billion NGN (12 million USD) in 2009. Pre-tax result reached 1 billion NGN (6.7 million USD). This result is 33% lower than that of the previous year. This decrease is accounted for by the provision for assets' depreciation amounting to 5.8 billion NGN (39 million USD).