International Energy Insurance swings to N3.71bn loss in H1

International Energy Insurance Plc reported a loss after tax of N3.71 billion in the first half of this year compared with a profit of N723.84 million in the same period of 2023.

Its earnings report released on Tuesday shows that its insurance revenue surged to N3.03 billion from N1.62 billion.

The company’s negative equity widened to N9.71 billion as of June this year from N6.05 billion at the end of last year.