Universal Insurance Plc has recorded significant growth in profitability and improved financial position for nine months ended Sept. 30, 2025.
The insurer during the period under review posted a profit after tax of N1.13 billion compared with N230.6 million recorded in the comparative period of 2024, an increase of 388 per cent.
Also, the company’s profit before tax during the period stood at N1.13 billion against N232 million reported in the corresponding period of 2024.
Following its improved business activities, its gross written premium rose to N18.59 billion in 2025, from N12.29 billion in 2024, representing a 51 per cent year-on-year growth.
Its revenue during the period under review increased by 49 per cent, climbing to N14.68 billion from N9.85 billion a year earlier.
While insurance service results declined from N3.25 billion in 2024 to N1.13 billion in 2025, this was more than offset by a substantial improvement in investment performance.
Investment and fair-value income rebounded to a combined gain of N2.31 billion, compared to a loss of N753 million in 2024, reflecting stronger asset valuations and improved yields on financial instruments.
The insurer’s net insurance and investment result doubled to N5.18 billion, up from N2.61 billion in 2024.
Supported by improved cost efficiency, administrative expenses fell significantly from N4.05 billion to N845.5 million.
Its total assets increased by 6.5 per cent to N23.63 billion as of September 2025, compared to N22.19 billion at the end of December 2024.
The company’s shareholders’ funds grew by 7.5 per cent to N16.09 billion, driven by retained earnings, which recovered to N428.6 million from a deficit of N139.3 million the previous year.
Its contract liabilities rose moderately to N6.57 billion from N5.88 billion, reflecting an expanding policy base.
Also, the group maintained strong capital buffers, with total equity accounting for approximately 68 per cent of total assets.
Its total liabilities rose to ₦7.44 billion from ₦5.81 billion in 2024..
Total Shareholders’ Fund (Equity) rose by 16.6 per cent to ₦14.38 billion as against ₦12.33 billion 2024, showing improved value and solid financials.
