Lloyd Vie Publishes 2024 Financial Statements
Lloyd Vie has released its financial statements for the 2024 exercise, with a net result that has more than doubled, reaching 1,724 MTND.
Technical Account
The technical account shows a 2024 turnover of 22,783 MTND and investment products (attributed to the technical result) of 7,372 MTND. Claims expenses, essentially buybacks, totaled 4,555 MTND net, versus 4,760 MTND the previous year.
Provisions and Placements
The insurer has set aside provisions of 15,627 MTND (net), explained by the growth of issued premiums. On the balance sheet, the stock of gross technical provisions amounts to 96,109 MTND. Placements stand at 103,262 MTND.
Operating Expenses
Operating expenses show a positive sign, at 0,913 MTND, compared to -0,303 MTND in 2023, thanks to net commissions received from reinsurers of 2,676 MTND.
Branch Results
The technical result comes mainly from Death (1,730 MTND) and Capitalization policies. On the other hand, the Mixed branch shows losses of 0,062 MTND.
Strategic Initiatives
During the 2024 exercise, Lloyd Vie launched several strategic projects, such as risk mapping. This proactive approach seeks to identify, assess and prioritize major risks that may affect the insurer. Furthermore, to support its development, the skills of Life producers have been strengthened based on team leaders. A loyalty program has been put in place. At the regulatory level**, IFRS standards to the 2023 accounts and financial statements will be prepared based on these standards.
Growth Potential
The insurer has significant potential to exploit. The life insurance market continues to grow, and the company could well continue to boost its profits in the coming years.
