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Custodian and Allied Insurance Q1 2012 Earnings, Gross Premiums Top N 3.5 billion

By Afolabi Ogunde on May 14, 2012

Custodian and Allied Insurance recently reported its q1, 2012 earnings.

Gross Premiums earned over the period topped N 3.5 billion up 16% from the N 3 billion it earned over the same period last year.

Income from commissions swelled 32% to N 79 million from N 59 million over Q1, 2011.

The company’s income from investments nosedived 6%, down to N 183 million from N 196 million over Q1, 2011.

Profit before tax was up 10% at N 886 million, from N 804 million from the preceding year.

Net income for the period came in at N 770 million from N 699 million over Q1, 2011, an increase of 10%.

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