Standard Alliance Insurance Plc Announces Delay in Filing Audited Financial Statements

Proshare

Tuesday, February 20, 2018 /8:50 AM /NSE

 

The Board of Directors and Management of Standard Alliance Insurance Plc hereby advises its esteemed shareholders and other stakeholders with regret that it may be unable to submit its 2017 audited financial statements to the Nigeria Stock Exchange (‘’NSE’’) within the timeframe required by the regulatory agency.

 

This had been unanticipated as the Company had expected to finalize the audit and publish its 2017 financial statements by March 31, 2018. The reason for the delay in filing the 2017 audited account is because of the recently concluded merger exercise with Standard Alliance Life Assurance Limited which requires an enhanced disclosure of information in the 2017 Audited Account.

 

More so, it is expected of the Company to after the audit, file with its Primary Regulator, National Insurance Commission (NAICOM) for approval before submission to The Exchange.

 

We sincerely apologize for any anticipated inconvenience and are optimistic to submit the Accounts to The Exchange as soon as it is approved by the National Insurance Commission on or before 30th April, 2018

 

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