UNIVINSURE Announces Delay in Filing the Company’s Q1 2019 Unaudited Financial Statements

Proshare

Wednesday, April 24, 2019 04:00PM / NSE


The Management of Universal Insurance Plc (the Company) hereby notifies the Nigerian Stock Exchange (The Exchange), its Shareholders, Stakeholders and the investing public that the Company will be unable to file its Q1 Unaudited Financial Statements for the Period ended 31 March 2019 (2019 Q1UFS), within the deadline of 30 April 2019.

The reason being that the Company is yet to file its Audited Financial Statements for the year ended 31 December 2018 (2018 AFS) as a result of the adoption and implementation of the IFRS 9 on Financial Instruments and IFRS 4 (as amended) on Insurance Contracts, as directed by the Company's primary regulator, the National Insurance Commission (NAICOM).

The Company is however optimistic of submitting the 2019 Q1 UFS on or before 29 June, 2019 and regrets any inconvenience this particular delay may cause our shareholders, stakeholders and the investing public.

 

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Graph 1: Universal Insurance Plc – One Year Share Price Movement

 

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Table: Unaudited Q3 2018 Results


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