Rob Bygrave, the CFO of Klapton, confirmed that the 2022 Financial Statements had been approved by the Board. This was after the finalization of the audit by SECC, a leading West African audit firm and their issuance of a clean audit report.
Mr Bygrave commented that the results reflected the expected fall in Gross Written Premiums from 2021, which was in line with the strategic decision to transfer the facultative reinsurance business to the new Zambian entity, Klapton Reinsurance Limited and refocus Klapton Insurance Company Limited on sureties and specialty lines. However it was important to stress the ongoing strength of Klapton Insurance Company Limited, with a balance sheet total of over €105m and total equity and reserves of €45m.