Sovereign Insurance explains reason for delay in filing 2019 full-year results

Sovereign Trust Insurance Plc has explained the reason behind the delay of its publication of its 2019 Full-Year financial statements.

This was revealed by the firm in its notice by the insurance firm filed to the Nigerian Stock Exchange.

It said the publication of the financial statement for December 31st, 2019 was delayed due to a breakdown of the Company's Information Technology (IT) system which hindered the timely conclusion of the auditing process to its regulator, National Insurance Commission for approval.

It promised to file the report to the NSE as soon as NAICOM approves the result.

"Upon receiving the approval of NAICOM, we shall file the accounts with the Nigerian Stock Exchange accordingly.

"The company regrets any inconvenience the delay might cause to its shareholders," the statement read in part.