Four insurance companies yet to file 1st Quarter 2016 results

Just barely 10 days to the end of the first quarter of 2017 financial year, four insurance companies were yet to deliver on their 2016 first quarter results.

This scenario Daily Times Nigeria findings show, eats into the companies’ shareholders’ funds as greater chunk is deployed to validate perception of the firms through settlement of heavy monetary sanctions.

The affected companies having failed to file their quarterly results as at when due, are branded by the Exchange as below listing standard, which serves as a warning to investors into the firms to be ware.

Reports show that African Alliance Insurance, Great Nigeria Insurance and Universal Insurance Company missed filing their first Quarter Interim Report 2016, as at the time of filling this report.

Quoted companies on The Exchange are required to file their quarterly accounts within 30days after the end of the quarter in accordance with Appendix iii of the Listing Rules of the NSE.

Also, the same four companies , African Alliance Insurance, Great Nigeria Insurance and Universal Insurance Company, also faces sanctions for failing to file their second quarter interim 2016 result as at when due.