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Tag: Linkage Assurance

  • Linkage Assurance launches Mobile App to deepen digital insurance access

    Linkage Assurance launches Mobile App to deepen digital insurance access

    As part of its strategic commitment to enhance customer experience and expand digital access to insurance services, Linkage Assurance Plc has launched its new mobile application, now available for download on both iOS and Android platforms.

    The Linkage Assurance App offers Nigerians a seamless, secure, and convenient way to purchase, verify, and manage motor insurance policies anytime, anywhere. With just a few taps, users can obtain genuine motor insurance certificates, renew existing policies, and access instant customer support—all from their mobile devices.

    Speaking on the innovation at the official launch in Lagos , the Managing Director/CEO of Linkage Assurance Plc, Mr Daniel Braie described the launch as a major milestone in the company’s ongoing digital transformation journey.

    He said: “Our goal is to make insurance simple, transparent, and accessible to everyone. The Linkage Assurance App demonstrates our commitment to customer-centric innovation and our vision of deepening insurance penetration through technology.

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    “The App features secure payment integration, a real-time policy management dashboard, and 24/7 customer assistance, ensuring that policyholders enjoy a smooth, convenient, and trustworthy digital experience”.

    “While the current version focuses on motor insurance, the company noted that plans are already underway to expand the App’s functionality to include other product lines—such as general, retail, and corporate insurance solutions—in future updates”, he noted.

    Industry observers note that the rollout of the Linkage Assurance App highlights the growing importance of digital innovation in Nigeria’s insurance sector, as firms adapt to evolving customer expectations and the need for speed, convenience, and accessibility in financial services.

    The company emphasized that the App will not only enhance convenience for existing customers but also help attract new users, particularly among younger, tech-savvy Nigerians who prefer mobile-enabled financial solutions.

    Consumers can now download the Linkage Assurance App from the Google Play Store or Apple App Store to experience a smarter and more convenient way to stay insured.

    Linkage Assurance Plc is one of Nigeria’s leading insurance companies, providing innovative risk management and financial protection solutions across motor, fire, marine, engineering, agriculture, general business, oil & gas, and other specialized lines. The company remains committed to delivering excellent customer service, digital innovation, and sustainable value creation for all stakeholders. AM Best, a global credit rating agency, has assigned Linkage Assurance Plc a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating.

  • AM Best assigns B+ rating to Linkage Assurance

    AM Best assigns B+ rating to Linkage Assurance

    Linkage Assurance Plc has been assigned a Long-Term Issuer Credit Rating (ICR) of “B+” by AM Best, a leading global credit rating agency.

    The outlook for the credit rating and the issuer credit profile is stable.

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     AM Best’s rating reflects Linkage Assurance’s strong balance sheet strength, in addition to its adequate performance, favourable business profile, and effective enterprise risk management framework. In a statement, the company: “This development places Linkage Assurance among the select Nigerian insurers evaluated by AM Best, reaffirming its position as a significant player in the country’s insurance landscape. The outlook signifies that, barring unforeseen events, Linkage Assurance is expected to maintain its credit profile.

  • Linkage Assurance unveils Third Party Motor Plus

    Linkage Assurance unveils Third Party Motor Plus

    Linkage Assurance Plc has introduced an enhanced third party motor insurance package knownn as ‘Third Party Plus,’ offering additional protection beyond the traditional third party coverage.

    The innovative policy, designed to cater to budget-conscious vehicle owners, combines the legally required third party insurance with own damage protection, ensuring that policyholders are not left stranded in the event of an accident.

    Chief Strategy and Product Officer, Linkage Assurance Plc, Dr. Imo Okorie Imo, said unlike the conventional third party motor insurance policy pric2ble plan that provides the mandatory third-party cover while also offering some level of protection for their own vehicle,” he explained.

    He noted that the Third Party Plus was developed in response to market demand, ensuring that customers who cannot afford comprehensive insurance are still protected against both third-party liabilities and personal vehicle damages.

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    “By law, third party insurance is compulsory, covering damages to others. However, to provide additional security for our customers, we introduced this hybrid plan, which has received regulatory approval,” he added.

    On seamless online access via Linkage Assurance portal, he said: “To enhance accessibility and ease of purchase, Linkage has launched a dedicated online portal where customers can seamlessly buy and manage their policies from anywhere. Interested vehicle owners can purchase the Third Party Plus Insurance via our website, portal or at our physical offices at Lekki Phase 1, Lagos (H/O), Lagos Mainland (Ilupeju), Abuja, Yenagoa, Port Harcourt, Umuahia, Enugu, among others.

  • Linkage Assurance CFO is ICAN-NIA chapter chair

    Linkage Assurance CFO is ICAN-NIA chapter chair

    Chief Financial Officer(CFO), Linkage Assurance Plc, Dr. Emmanuel Otitolaiye has been inaugurated as the pioneer Chairman, Institute of Chartered Accountants of Nigeria (ICAN)-Nigerian Insurers Association(NIA) Chapter

    The chapter was inaugurated by the 60th President of ICAN, Davidson Alaribe, in the company of accounting and insurance professionals in Nigeria at a ceremony at the  Insurers House in Victoria Island, Lagos.

    Otitolaiye said the executive committee would uphold the highest standards of professionalism, promote excellence in accounting, and advance members’ interests.

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    Specifically, he stated that his administration will focus on membership drive, training and events, through collaboration and partnerships.

    He said: “As we navigate the ever-evolving landscape of business and finance, we must embrace innovation and stay at the forefront of emerging trends and technologies. The challenges we face require us to adapt, evolve, and continuously expand our knowledge and skills.

  • Linkage Assurance grows insurance revenue to N16.4 billion in Q3

    Linkage Assurance grows insurance revenue to N16.4 billion in Q3

    Underwriting firm, Linkage Assurance Plc has sustained its strong growth trajectory, with a 61 percent rise in insurance revenue at the end of third quarter 2024.

    Linkage Assurance Plc’s unaudited financial statements year-on-year for the period end 30th September 2024 submitted to the NGX Limited shows that insurance revenue grew to N16.43 billion from N10.22 billion recorded at the same period in 2023.

    The Insurance Service Result, which underscores the firm’s prudence and risks management capabilities rose by a significant 261 percent to close at N723.57 million in the review period,  as against N200.37 million the previous year.

    Linkage also achieved significant growth in investment and other incomes, rising by 26 percent, from N5.59 billion in 2023 to N7.07 billion in the review period.

    Profit before Tax (PBT) at the end of third quarter 2004 stood N4.38 billion, from N3.65 billion in third quarter 2023, showing a 20 percent increase, while Profit After Tax (PAT) also grew by 22 percent to N4.16 billion, as against N3.41billion in Q3 2023.

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    The Company’s total assets also appreciated significantly year-on year period to N60.39 billion, from N52.86 billion, indicating a 14 percent increase.

    The Managing Director/CEO, Linkage Assurance, Mr. Daniel Braie while commenting on the accounts said: “As an organisation, we shall continue to refine our strategy in line with our strategic focus for the year and theme.

    Our theme for 2024, he said is “Consolidation”, and this informs our strategic intent along the four pillars of Business growth, Operational excellence, financial excellence, and Customer and People, the CEO said.

    “Consequently, during the year the identified strategic focus will guide as compass in our quest to navigate through the highly competitive insurance market to increase our market share in the most profitable sectors and offer excellent customer experience to all our clients.”

    Braie said part of the Company’s agile strategy would be to leverage on technology to improve products and services especially to direct and personal clients.

    “This is also part of digital transformation initiatives. Also, having recognized the impact of certain products lines like motor insurance on our portfolio, we are positioned to offer to our client’s different options of motor insurance according to their risk exposure(s) willingness and ability to pay.”

    “We shall continue to leverage on the positive impact of our ongoing brand rejuvenation and awareness campaign to the insuring public, and this will be reinforced by our customer value proposition”, he added.

  • Linkage Assurance records 26% growth

    Linkage Assurance records 26% growth

    • Gross premium hits N16.3b
    • Total Asset rises to N50.2b

    Linkage Assurance Plc in the financial year ended December  31, 2023 recorded gross premium written (GPW) of N16.33 billion, from N12.98 billion the previous year, a 26 per cent growth.

    This was contained in the Company’s Unaudited Financial Statements for 2023 filed with NGX Limited for shareholders and the i public.

     The breakdown of the result shows that Linkage Assurance Plc came out strong in the year undr review, posting a Profit before Tax (PBT) of N4.51 billion, a 67 per cent increase from N2.70 billion in 2022. This is as Profit after Tax (PAT) rises to N4.22 billion, from N2.57 billion, a 64 per cent increase.  The result also shows that the underwriter’s risk management drive was upbeat, despite meeting its claims obligation to clients.  The company recorded underwriting profit of N705.71 million from N506.12 million in 2022, indicating a 39 per cent growth.

     It also paid out claims to clients for various losses incurred in the review year, which amounted to N4.49 billion, from N3.09 billion paid out in 2022.

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     Linkage Assurance also saw outstanding growth in investment income, which rose from N4.87 billion in 2022 to N9.02 billion in 2023. The investment and other operating incomes, according to the company was buoyed by dividend income received from investment in pension business, sundry income from share subscription and foreign exchange gains. Linkage Assurance’s balance sheet was further strengthened with total assets rising to N50.52 billion, a 26 per cent increase from N39.99 billion in 2022.

    Managing Director/Chief Executive Officer of the company, Mr. Daniel Braie, said Linkage has continued to deploy strategies in line with its growth plans, remaining on top of its core areas from stronger market share, expanding market size, enhancing customer experience, and ensuring that there is value creation for its investors and other stakeholders alike.

  • Linkage Assurance records 26% growth

    Linkage Assurance records 26% growth

    • Gross premium hits N16.3b

    Linkage Assurance Plc recorded growth in the financial year ended December 31, 2023, with gross premium written (GPW) rising to N16.33 billion, from N12.98 billion the previous year, indicating a 26 per cent growth.

    This was contained in the company’s Unaudited Financial Statements for 2023 filed with Nigeria’s NGX Limited.

    A breakdown of the result shows that Linkage Assurance posted a Profit before Tax (PBT) of N4.51 billion, a 67 per cent increase from N2.70 billion in 2022. PAT rose to N4.22 billion, from N2.57 billion, an increase of 64 per cent.

    Also, the company recorded underwriting profit of N705.71 million from N506.12 million in 2022, indicating a 39 per cent growth. But it paid claims for losses worth N4.49 billion, from N3.09 billion in 2022.

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    The company also witnessed  growth in investment income, which rose from N4.87 billion in 2022 to N9.02 billion last year.

    The investment and other operating income, according to the company, was buoyed by dividend income received from investment in pension business, sundry income from share subscription and foreign exchange gains.

    The balance sheet was further strengthened with total assets rising to N50.52 billion, a 26 per cent increase from N39.99 billion in 2022.

    The company’s Managing Director/Chief Executive Officer, Mr. Daniel Braie, expressed satisfaction with the result. He said they have continued to deploy strategies in line with its growth plans, remaining tops in its core areas from stronger market share, expanding market size, enhancing customer experience, and ensuring there is value creation for its investors and other stakeholders.

  • Linkage Assurance half-year profit up by 16%

    Linkage Assurance Plc has recorded a 16 per cent growth in Profit After Tax (PAT) for the half-year unaudited financial statement ended June 30, 2019.

    The figure rose from N439.77 million in the half-year period of 2018 to N572.76 million in the same period this year.

    According to the financial statement made available to the Nigerian Stock Exchange (NSE), Linkage during the period under review posted a Gross Premium Written (GPW) income of N4.130 billion as against N3.650 billion the previous year.

    With efficient risk management, the underwriter during the period returned to profitability in underwriting performance, posting a 176 per cent increase, as the figure moved from negative N367.11 million in 2018 to positive N296.06 million.

    The company’s total assets also grew by 8 percent, moving from N23.14 billion to N24.86 billion at the end of June 2019.

    The Managing Director, Daniel Braie said the Company has diversified its portfolio to achieve income efficiency with quality risk management, noting that management is actively watching its cost to ensure that it delivers value to shareholders.

    In terms of compliance to regulatory requirements, we are up and doing to ensure we remain above board and maintain our position in the industry, Braie said.

  • Firm pledges prompt claims payment 

    Underwriting firm, Linkage Assurance Plc, has assured its broker partners and potential customers of the company’s commitment to prompt settlement of claims, customer satisfaction and efficient service delivery.

    Linkage Assurance Plc Managing Director/CEO, Daniel Braie gave the assurance during the Members Evening of the Abuja Area Council of the Nigerian Council of Registered Insurance Brokers (NCRIB) held in the nation’s capital.

    He said the members evening hosting is part of the underwriter’s nationwide fraternisation tour to its broker partners.

    He also said the company plans to go round the area committees in all the geo-political zones where NCRIB is established, having started off with the Lagos national body before now.

    Braie thanked the insurance brokers for their partnership and support to the company, stating that their contribution has enabled the company attain its current level of growth.

    The Linkage CEO noted that the company which paid out an excess of N2.71 billion on claims in 2018 has continued to meet customers’ expectations, despite the challenging business environment.

  • Agusto & Co assigns “A-” rating to Linkage Assurance

    Agusto & Co limited whose strong credibility presence and ratings are globally accepted in Nigeria and across the globe has just assigned an ‘A-‘ rating to Linkage Assurance Plc.

    The rating assigned to Linkage Assurance Plc (“Linkage” or “the Insurer”) is reflective of an insurer with good financial condition and strong capacity to meet its obligations as and when they fall due. The rating is underpinned by good capitalisation, good investment return and good liquidity profile. Linkage’s investment in Stanbic IBTC Pensions Limited (the largest pension fund administrator) which accounted for 50% of its investment portfolio has supported the Insurer’s performance and liquidity position. The rating is however constrained by elevated underwriting expenses, sub-par risk management, concentration in the investment portfolio & investment income, sub-par underwriting performance and the fragile state of the economy.

    As at 31 December 2017, Linkage’s shareholders’ funds stood at ¦ 20 billion, significantly above the regulatory minimum for non-life insurers. Retained earnings also swung to positive territory on account of high profit retention rate. This should pave the way for dividend payment and strengthen relationship with shareholders. The Insurer prioritises liquid assets in its investment management in a bid to maintain strong ability to meet obligations as and when they fall due.

    As a result, money market securities which are highly liquid represented about 45.5% of the investment portfolio as at 31 December 2017. As at the same date, liquid assets accounted for 39.5% of total assets and covered outstanding claims 9.6 times. We consider the Insurer’s liquidity to be adequate for current business risks.