Universal Insurance Announces 388 % Growth in Profit

Ebere Nwoji 

Universal Insurance Plc, has said it achieved a remarkable growth in profit within the first three quarter of this year which ended September 2025 growing its profit After Tax  from N230.million in the first three quarter of 2024   to N1.13 billion mark in September 2025.

This represents 388 per cent growth when compared to its profit in 2024.

Profit Before Tax of the company grew to N1.13 billion, compared to N232 million reported in the corresponding period of 2024.

The company’s gross Premium soared  to N18.59 billion in 2025, from N12.29 billion in 2024, representing a 51 percent year-on-year growth.

Insurance revenue also increased by 49 percent to N14.68 billion from N9.85 billion last year.

According to the Managing Director of the company, Mr Japheth Duru, 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.  He said supported by improved cost efficiency, administrative expenses fell significantly from N4.05 billion to N845.5 million.

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. 

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.