Linkage Assurance Grows Profit by 31% in Nine Months

Deborah Ndinorouba

Linkage Assurance Plc grew its profit after tax(PA) by 31 per cent to N4.09 billion in the nine months ended September 2026, while its total assets climbed to N100.8 billion, reflecting growth in its financial position despite a challenging operating environment.

The insurer’s unaudited financial results filed with the Nigerian Exchange  (NGX) showed that PAT increased from N3.12 billion recorded in 2025  to N4.09 billion in  2026.

Profit before tax also rose by 29 per cent to N4.32 billion, compared with N3.34 billion in the same period last year.

The growth in profitability was largely supported by investment and other income, which rose 27 per cent to N7.71 billion from N6.05 billion a year earlier, helping the company manage rising claims and other insurance-related costs during the review period.

Insurance revenue increased by six per cent to N20.55 billion from N19.30 billion, reflecting growth in the company’s insurance business, while the company continues to meet its obligation to customers as reflected in gross claims pay out of N5.59 billion during the nine-month period, compared with N4.02 billion in the corresponding period of 2025.

On the balance sheet, the insurer recorded stronger growth, with total assets increasing by 31 per cent to N100.83 billion as of September 30, 2026, compared with N76.90 billion at the end of December 2025.

In its outlook, Linkage Assurance said its strategic focus for 2026 was centred on consolidation, with emphasis on business growth, operational excellence, financial excellence, and customer and people development.

Commenting, Managing Director/CEO, Linkage Assurance Plc, Daniel Braie,  said the company’s strategy would guide its efforts to increase market share in profitable business segments while improving customer experience in an increasingly competitive insurance market.

He also identified technology and digital transformation as important components of its growth strategy, particularly in improving products and services for direct and personal insurance customers.

Braie said: “ Linkage would offer customers different motor insurance options based on their risk exposure, willingness and ability to pay, while continuing its brand awareness and customer value initiatives.”

Linkage Assurance’s nine-month performance comes as Nigeria’s insurance industry enters a new phase following the recapitalisation exercise, which has increased expectations for stronger underwriting capacity, improved claims settlement and more sustainable business growth.