Regency Alliance Insurance Plc Grows Assets to N21.8bn, Plans Rights Issue for Recapitalization
Regency Alliance Insurance Plc's total assets grew by 15.96% to N21.857bn in the 2024 financial year, with plans for a rights issue to raise minimum capital required by the new Insurance Industry Reform Act. The company's equity, insurance revenue, and investment income all saw significant growth.
Despite rising costs, the company managed its resources prudently, resulting in a positive outcome with profit before tax climbing by 19.49%. The board also proposed a bonus issue for shareholders.
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