CUSTODIAN & ALLIED INSURANCE LIMITED (CAIL) is a wholly owned Nigerian Company. CAIL’s sole purpose is to develop, package and deliver innovative insurance products that best satisfy customer needs, whilst operating a highly profitable, efficient, resourceful and ethical organization that will survive well into the future and be a valuable asset to its shareholders. The Custodian and Allied Insurance Plc has given approval to pay a dividend payout of 18 kobo per share by its esteem shareholders for the financial year ended December31, 2016.
The proposed dividend was approved by the shareholders of the company at its 22nd annual general meeting held today in Lagos.
The said dividend would be payable to shareholders of the firm whose names appeared in the company register while shareholders appluaded the company for living up to its responsibility and maintaining its dividend policy.
Omobola Johnson, the Chairperson of the company, while addressing shareholders stated that Custodian and Allied has maintained its usual practice of rewarding its shareholders by declaring the dividend.
Mrs Johnson in her words said: “The company sustained its practice to regularly payment of dividend to the shareholders by paying an interim dividend of seven kobo per share in September, 2016 and following another stellar performance, for the year ended 31st December, 2016. Your board hereby proposes, subject to your approval, the payment of an additional 18 kobo per share in respect for the result of the 2016 financial year”, she assured.
The Insurance firm within the period under review recorded a gross premium income of N28.3 billion as against N23.6 billion recorded in the comparable period of 2015 while investment income grew to N3.8 billion to N2.8 billion recorded in the previous year.
Underwriting expenses increased to N2.4 billion in 2016 from N2.2 recorded in the period of previous year, while net claims expenses rose to N13.2 billion against N9.2 billion paid in 2015
“Custodian and Allied Insurance Limited provides various general insurance products and services in Nigeria. It offers personal insurance products, including vehicle, homeowner, personal all risks, personal accident, and boat/yacht owner insurance products. The company also provides business insurance products and services comprising advance payment bond, motor vehicle, fire/special peril, business interruption, burglary/housebreaking, electronic equipment, money, corporate all risks, business owners comprehensive, machinery breakdown, contractor’s all risks, group personal accident, workmen’s compensation, employee dishonesty, professional indemnity, public liability, marine hull, marine car…