Enterprise Group Plc, which comprises businesses in insurance, pensions, funeral services, and real estate development, has braved the coronavirus pandemic to post an impressive 25 percent growth in profit after tax for the 2020 financial year.

The group, whose subsidiaries include Enterprise Life, Enterprise Insurance, and Enterprise Trustees, registered a post-tax profit of GH¢146.7m, up from GH¢117.2m in 2019.

Net income, which includes investment income and net insurance premium revenue, went up by 18.7 percent to GH¢847.7m, whilst net expenses rose from GH¢578.3m to GH¢672.2m, representing a 16.2 percent growth.

The insurance businesses of the group paid or set aside a total of GH¢374.6m in claims and benefits for the year, which was a 15 percent increase over the GH¢325.3m that was recorded in 2019.

There were also increases to the company’s assets and total equity, with assets growing by 16.4 percent to GH¢1.74bn and equity by 14.6 percent to GH¢764.4m.

Earnings per share was GH¢0.476, a 2.1 percent increase over the GH¢0.466 that was posted for the previous year.

The company has proposed a dividend per share of GH¢0.062, 14.8 percent more than the previous year’s figure of GH¢0.054.

The Group’s 2020 performance is consistent with its sustained growth over the last five years.