Prestige Assurance Co. Plc
NNSENG:PRESTIGE1.38
NGN
0.00
(0.00%)
ISIN
NGPRESTIGE00
Return %
Stock
S&P 500
1Y
-23.76
14.20
3Y
206.67
81.12
5Y
193.62
68.34
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.Company Description
- CEO
- Umesh M. Rathod
- Sector
- Finance
- Industry
- Property/Casualty insurance
- Address
- Lagos Nigeria
- IPO Date
- Aug 11, 1995
- Website
- prestigeassuranceplc.com
- Similar Companies
- Business
- Prestige Assurance Plc is a Nigeria-based general insurance company that provides non-life insurance underwriting, risk assessment, and claims settlement services to corporate, institutional, small and medium enterprise, and individual retail clients. The company offers a broad suite of insurance products and solutions categorized into Fire and Property Insurance, including fire and special perils, industrial all risks, business interruption, and home comprehensive policies; Motor Vehicle Insurance, covering private and commercial comprehensive vehicle protection, third-party liability, fleet policies, and passenger transit coverage; Marine and Aviation Insurance, comprising marine cargo, marine hull, goods in transit, and aviation hull and liability underwriting; General Accident and Casualty Insurance, encompassing personal accident, group life accident, burglary and housebreaking, cash and money-in-transit, fidelity guarantee, public liability, product liability, employers liability, professional indemnity, and directors and officers liability; Engineering and Construction Risks, covering contractors all risks, erection all risks, plant and machinery breakdown, boiler explosion, and electronic equipment insurance; Energy and Specialized Risks, delivering coverage for upstream, midstream, and downstream oil and gas operations; and Surety and Bonds, including performance bonds, advance payment guarantees, bid bonds, and customs bonds. Founded in 1970 and headquartered in Lagos, Nigeria, Prestige Assurance Plc operates as a subsidiary of The New India Assurance Company Limited, a premier multinational general insurance corporation headquartered in Mumbai, India. The company conducts its underwriting operations across Nigeria through a branch network covering key commercial and administrative centers including Lagos, Abuja, Port Harcourt, Ibadan, and Kano. In recent operational and strategic developments, Prestige Assurance Plc has advanced a comprehensive digital transformation agenda, deploying enhanced digital underwriting platforms, self-service customer web portals, and automated claims tracking systems to accelerate settlement timelines and expand retail market reach. The company has formed strategic distribution alliances with digital aggregators, licensed brokers, and financial intermediaries to diversify revenue channels into retail and SME segments. Additionally, the company has undertaken capital optimization measures to bolster its statutory solvency margin in line with National Insurance Commission regulatory requirements, expanded underwriting capacity in large-ticket industrial and energy sectors, and strengthened its risk retention structures through robust reinsurance treaties with top-tier domestic and international reinsurers.