Universal Insurance Grows Investment Income To N2.31bn In Q3

The investment and fair-value income of Universal Insurance Plc, as reported in its accounts for the nine months ended September 2025, rebounded to a combined gain of N2.31 billion.

This is a significant improvement when compared to a loss of N753 million in 2024, reflecting stronger asset valuations and improved yields on financial instruments.

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.

The insurer’s net insurance and investment result doubled to N5.18 billion, up from N2.61 billion in 2024.

Following its improved business activities, its gross written premium increased to N18.59 billion in 2025, from N12.29 billion in 2024, representing a 51 per cent year-over-year growth during the period under review.

Insurance revenue also increased by 49%, climbing to N14.68 billion from N9.85 billion a year earlier.

The insurer’s profit after tax went up to N1.13 billion, up from N230.6 million in the same period of 2024 — a 388 per cent increase, while profit before tax grew to N1.13 billion, compared to N232 million reported in the corresponding period of 2024.

Supported by improved cost efficiency, administrative expenses fell significantly from N4.05 billion to N845.5 million.

Similarly, 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, even as 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.

Insurance contract liabilities rose moderately to N6.57 billion from N5.88 billion, reflecting an expanding policy base. The group maintained strong capital buffers, with total equity accounting for approximately 68 per cent of total assets.

Total Liabilities rose to N7.44 billion from N5.81 billion in 2024. Despite this, the insurer’s equity base strengthened significantly.

Total Shareholders’ Fund (Equity) rose by  16.6 per cent to  N14.38 billion as against N12.33 billion in 2024, showing improved value and solid financials.

Applauding this development, the managing director/CEO, Universal Insurance Plc, Dr Jeff Duru, noted that the board and management will continue to reinvent ways and means to satisfy its customers, shareholders and relevant stakeholders.