Noor Takaful Insurance Records N1.87bn Profit For 2024 Financial Year

Noor Takaful Insurance Limited has reported a Profit After Tax (PAT) of N1.87 billion for the 2024 financial year, a 79 per cent increase from the N1.05 billion recorded in 2023.

The company’s Board of Directors also approved a dividend payout of seven kobo per share for the year, up from the five kobo declared in 2023.

The chairman of the Board, Ambassador Shuaibu Ahmed, announced the results at the company’s 8th Annual General Meeting (AGM), held on Wednesday, September 19, 2025, at the Lagos Intercontinental Hotel.

According to the audited results, Gross Written Contribution (GWC) grew by 52 per cent, rising from N6.49 billion in 2023 to N9.95 billion in 2024.

Ahmed noted that the performance was achieved despite economic challenges marked by high inflation, rising interest rates, and naira volatility. He attributed the growth to prudent underwriting, disciplined risk management, and retail and corporate business line expansion.

He said the company’s resilience reflected the deepening trust in the takaful model and reaffirmed its commitment to providing ethical and innovative insurance solutions.

The chairman added that Noor Takaful will continue to focus on delivering sustainable value to stakeholders while contributing to the development of Nigeria’s insurance sector.