Swamy said this at the company’s 2017 Annual General Meeting (AGM) in Lagos on Monday.
The GWP is the total premium of an insurer less reinsurance and ceding commissions.
The Prestige Assurance boss said the growth in GPW in the year under review was achieved as a result of the relocation of the Abuja, Ikeja and Kano branches to profitable centres.
According to him, the action resulted in increase in the premium generated by the branches.
Swamy said the Profit after Tax (PAT) for the year under review grew from N222 billion in 2016 to 532 billion.
“The PAT figure represented 140 per cent growth over that of 2016.
“Though no dividend was declared for the year under review, but in order to erase accumulated loss for year 2015 and 2016, the company has raised earnings per share to N9.90 kobo from N4. 13 Kobo,” he said.
Speaking on re-branding measures to reposition the company, Swamy said Prestige Assurance had activitated its social media platforms.
“These include facebook, twitter and Instagram among others with growing followership,” he said.
Commenting on the state of the insurance industry, he commended underwriters for achieving prompt payment of claims, NAN reports.
Swamy said the future of the industry depended on sound underwriting, prompt settlement of claims, proper fund management and innovative information technology.
“I must not fail to applaud co-practitioners for ensuring insurance claims are paid within 21 days as stipulated by the industry’s regulator, National Insurance Commission (NAICOM),” Swamy said.