The N726.2billion premium generated during the period represents a growth proportion of about 36.3 per cent, quarter-on-quarter.
According to the commission, while non-life business as in the prior periods, continued its dominance, contributing 57.4 per cent premium relative to the share of the life business of 42.6 percent, the proportional significance of life in the industry sustained a positive course in recent times reflective of the consumer’s confidence and awareness.
The figure posted by fire insurance came a distant second , maintaining same pattern of contribution to the gross premium pool of the market while motor insurance , marine and aviation , even as general accident and miscellaneous followed in that order. In contrast to the previous quarter, group life followed with 34.5 per cent while annuity business contributed gross premium income of about 26.9 per cent during the period.