Enterprise Group Ltd has posted a profit after tax of GH¢61.3 million in 2014 as against the GH¢39.7million it recorded the previous year.
This represents a significant growth of 54.5 per cent.
The group’s net revenues also rose to GH¢288.4 million as compared to GH¢230.9million in 2013.
Net investment income stood at GH¢74.5 million in the year under review, representing a 25.8 per cent of net income and represented a growth of 9.6 per cent against the previous year’s performance of GH¢68 million.
Enterprise Insurance and Enterprise Life still represent the most significant subsidiaries in terms of financial performance.
Both businesses continue to show great potential for growth, delivering growth rates of 14.9 per cent and 26.84 per cent respectively in the General and Life Insurance markets.
Enterprise Trustees Ltd, the group’s pensions subsidiary, reported profit after tax of GH¢206 million in 2014 as against a loss of GH¢2.14 million in 2013.
Speaking to the media, the Group CEO, Mr Keli Gadzekpo, assured all clients and shareholders that the group and its subsidiaries were adapting to the demands of the changing business environments in their various markets.
On the recent flood and fire disaster in Accra, he said: “Enterprise will stand by its clients that have suffered losses because that is why we are in business. As Ghana’s leading and oldest insurer, it is by supporting our clients that we have survived over 90 years.”
“In the coming days, Enterprise will make very significant contributions to the Korle Bu Teaching Hospital, as well as the 37 Military Hospital, as we look to touch lives in these trying times,” he added.
Mr Gadzekpo assured both shareholders and clients that the Group and all its subsidiaries were strongly positioned for the future in every market it operates.
Source: Graphic