Ghana insurer SIC swings to profit in 9-months to September
DAKAR Nov 1 (Reuters) - Ghana State Insurance Company swung to a net profit of 1.652 million cedis ($747,451) for the nine months to end-September as underwriting earnings jumped, compared with a net loss of 838,000 cedis a year earlier.
The insurance provider said in a filing with the Ghana Stock Exchange on Friday that revenue generated after paying all claims rose to 11.037 million cedis for the nine months from 2.179 million cedis for the same period in 2012.
Net premiums increased 13.7 percent to 61.623 million cedis from 54.209 million in the same period in 2012, while basic earnings per share increased to 0.0084 cedis from 0.0043 cedis. (Reporting by Christian Akorlie; Writing by Bate Felix; editing by Jane Baird)
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