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Sovereign Trust Insurance Plc (Nigeria)

Main Activities: Direct Life Insurance Carriers | Direct Property and Casualty Insurance Carriers | Other Direct Insurance (except Life, Health, and Medical) Carriers
Full name: Sovereign Trust Insurance Plc Profile Updated: October 29, 2024
Buy our report for this company USD 29.95 Most recent financial data: 2023 Available in: English Download a sample report

Sovereign Trust Insurance Plc is a highly professional and innovative company providing the best form of insurance protection and risk management services to various policyholders in Nigeria. Sovereign Trust Insurance Company Plc commenced business on Monday 2nd January 1995 following the acquisition and recapitalization of the former Grand Union Assurances Limited with an authorized share capital of N1 Billion out of which N433million was fully paid-up. The company was initially licensed to underwrite General Insurance Business which includes Fire & Property, Motor, General Accident, Liability, Oil & Energy, Construction, Bond and Engineering insurances etc. The company currently operates through a network of four branches located in Apapa, Port Harcourt, Ibadan, Abuja with corporate Headquarters in Victoria Island.

Headquarters
17, Adetokunbo Ademola Street, Victoria Island
Lagos; Lagos;

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Website: http://www.stiplc.com

Basic Information
Total Employees:
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Outstanding Shares:
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Financial Auditors:
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Incorporation Date:
1980
Key Executives
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Chairman
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Director / Member of the Management Board
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Director / Member of the Management Board
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Director / Member of the Management Board
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Director / Member of the Management Board
Ownership Details
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17.56%
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12.59%
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8.56%
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8.2%
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7.42%
Company Performance
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Key Financial Highlights
Annual growth percentages for latest two years in local currency NGN. Absolute financial data is included in the purchased report.
Net insurance premium revenue
672.8%
Operating profit (EBIT)
149.32%
Net Profit (Loss) for the Period
120.35%
Total assets
38.06%
Investments
-87.44%
Total equity
29.87%
Net Premiums Earned Trend
N/A
Net Profit Trend
N/A
Return on Equity (ROE)
2.7%

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