In what has become a familiar trend of sustained growth, Guaranty Trust Assurance plc (GT Assur) one of Nigeria's leading insurance companies recorded Gross Premium Income (GPI) of N4.14 billion in the financial year ended December 31, 2008. This represents a 101% growth over its 2007 GPI performance.  Similarly, GT Assur grew its profit after tax by a remarkable 128% from N821million in 2007 to N1.88 billion in 2008.

Other highlights of the Company's newly approved annual report for 2008 show a growth in Underwriting Profit from N659 million in 2007 to N1.2 billion in 2008.  Similarly, Shareholders' Funds grew by 99% from N6.3 billion to N12.5 billion by the end of 2008 thereby making the company one of the most capitalized insurance companies in Nigeria. Return on Average Equity (RoAE) improved from 14.1% in 2007 to 19.9% in 2008.

This performance, according to the company's Marketing & Corporate Communications Manager, Mr. Chike Ogwo, "confirms our commitment to consistently deliver superior financial performance.  It is a testament to the dedication and quality of our people and most importantly, reflects the growing patronage of the company by discerning customers and brokers.  The result was achieved despite serious challenges posed by the spluttering global economy in 2008".

During the year, GT Assur incorporated and received regulatory authorisation for a wholly owned subsidiary, Assur Asset Management Limited (AAML).  AAML's principal activity is the provision of portfolio management services to corporate and individual clients leveraging on the skills of its highly talented fund management and research teams. Consequently and for the first time, GT Assur's financials have been consolidated with that of its subsidiary.
 
GT Assur uses a unique relationship management system to manage large corporate clients in the Oil & Gas, Manufacturing, Telecomms, Financial Services and Construction industries and leading insurance Broking firms.  It focuses on the creation and delivery of a practical approach to risk management and bespoke solutions thereby creating value in a highly competitive environment.  The Company also leverages its wide Bancassurance distribution platform and technology-driven operational system to deliver innovative products to the nation's growing middle income class.

Guaranty Trust Assurance plc is a subsidiary of Guaranty Trust Bank plc.