In compliance with the requirements of the Securities Act No.41 of 2016 and the Listing Rules of the Lusaka Securities Exchange (LuSE) Zambia Reinsurance Plc. announces the audited results for the year ended 31 December 2022
Economic Environment
The macroeconomic parameters for the period under review showed some stability, particularly the inflation and the exchange rates, which had a positive impact on our operational and financial performance.
Financial Results
The Company recorded growth on its top line of 21.7% from K 78.759 million in 2021 to K 95.872 million. This was mainly driven by increased premiums written from the property book of Fire and Engineering classes.
The bulk of the business from the domestic market as the Company participated in some mining risks as well as some risks in the energy sector.
The profit for the year increased by 364% from K 1.307 million in 2021 to K 6.063 million.
The total comprehensive income for the year was K 7.658 million, an increase of 164% from K 2.905 million for the previous period.
There was growth in the total assets by 11% from K 112.964 million in 2021 to K 125,374 million.
The earnings per share increased from K 0.03 in 2021 to K 0.13.
Dividend
The Directors will recommend a dividend payment to the shareholders of K 0.045 per share at the next Annual General meeting.
By order of the Board
