Adebayo Obajemu

Law Union & Rocks Insurance Plc on Thursday published its First Quarter report for the period ended 31 March 2020 on the website of the Nigerian Stock Exchange.

In the unaudited financial statement, the underwriting firm reported a Gross Premium Written of N2.099 billion, down by 6.32% when compared to N2.240 billion reported in the first quarter of 2019.

Profit after tax reported was N31.95 million, down by 51.09% when compared to the profit after tax of N65.33 million reported in Q1 2019.

Using the ratio of profit after tax over outstanding number of shares of 4,296,330,500 the earnings per share (EPS) of Law Union & Rocks Insurance Plc for the period under review is evaluated approximately as 1 kobo.

With reference to the share price of N1, the P.E ratio of Law Union & Rocks Insurance is calculated as 134.44x with earnings yield of 0.74%.