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Coronation Merchant Bank launches podcast series

Coronation Merchant Bank has announced plans to launch its podcast series on Dec. 31, which will cover economic and market development trends.

Mr Banjo Adegbohungbe, the Managing Director/Chief Executive Officer, Coronation Merchant Bank, said in in Lagos.

Adegbohungbe said the podcast series was part of the Coronation Conversations platform, an ongoing engagement medium, which includes blogs, thought leadership articles, videos and events.

He said that it would feature thought leaders, industry experts, and leading professionals.

Adegbohungbe said the series would be launched across platforms such as the Coronation Merchant Bank website, www.coronationmb.com/podcast, Apple Podcast, Google Podcast, Spotify, Spreaker, Castbox and PlayerFM.

According to him, the first installment will be anchored by Ms Chinwe Egwim, Chief Economist of Coronation Merchant Bank.

Adegbohungbe said: “At Coronation Merchant Bank, we are committed to providing relevant and topical insights required for strategic decision making to our clients.

“The Coronation Conversations Podcast will foster important conversations among experts which will assist listeners to make informed decisions for business and financial management as well as investment purposes.”

Also speaking Egwim said the podcast would shape industries, markets, domestic and global economy.

“The Coronation Conversations Podcast discusses trends that are shaping industries, markets, specific sectors as well as the domestic and global economy.

“Our podcast series gives listeners an opportunity to tap into expert knowledge, boost their economic intelligence and soak key nuggets from unexpected angles.

“Insights from each episode will assist investors, captains of industries, professionals, business owners and policy makers to navigate the economic landscape,” she said.

Coronation Merchant Bank was established in 2015 to provide wholesale banking to a long-underserved market.

It offers corporate & investment banking, private banking/wealth management and global markets/treasury services to its niche clientele.

It presently has two branches located in Abuja and Port Harcourt with its head office in Lagos.

insurance

Coronation Insurance pays N4.16bn claims

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Coronation Insurance paid claims of N4.16 billion for the third quarter (Q3) ended Sept. 30 compared with N2.74 billion paid in the corresponding period of 2020.

This is contained in the insurer’s unaudited interim group financial result signed by its Chairman, Mr Mutiu Sunmonu and Managing Director, Mr Olamide Olajolo, made available in Lagos.

The company said that claims expenses for the quarter under review stood at N4.24 billion against N2.48 billion  in the comparative period of 2020.

Gross premium stood at N11.06 billion in the review period compared to N13.26 billion posted in the corresponding period of 2020.

Also, gross premium income dropped to N10.37 billion from N12.85 billion posted in the preceding period of 2020.

Further analysis of the report showed that profit before tax dropped to N685.2 million from N1.19 billion posted in the comparable period of 2020.

The company’s profit after tax declined by 28.37 per cent to N711.1 million against N992.7 million achieved in 2020.

It said that growth in its total assets stood at N41.15 billion in the review period against N39.72 billion achieved in 2020, an increase of 3.60 per cent.

Similarly, the met premium income for the quarter stood at N6.63 billion in contrast with N5.54 billion recorded in the comparable period of 2020.

It said that its net underwriting income grew to N7.29 billion against N7.25 billion recorded in the third quarter of 2020.

“Underwriting expenses dropped to N1.94 billion compared to N2.10 billion recorded in 2020, while investment income was N1.33 billion compared to N765 million recorded in the previous year,” it said.

Coronation Insurance, formerly Wapic Insurance Plc, was founded in 1958 and licensed to underwrite all classes of life and non-life insurances for individuals, groups, commercial and industrial sectors.

The company has operations in Nigeria and Ghana, while its general and personal insurance products include motor, life, investment, yacht, marine and home insurance.

It also engages in general property insurance, automotive, marine, aviation, fire and special perils, goods-in-transit, guarantee and liability insurances for oil and gas, among others.