Universal Insurance profit surges by 388% as GPW soars to N18.59bn in 9 months

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Chuks Udo Okonta

Universal Insurance Plc has released its account for nine months ended September 2025, showing significant growth in profitability and improved financial position.

The insurer 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.

Premium Growth: Strong Business Expansion

Following its improved business activities, its gross written premium went up to N18.59 billion in 2025, from N12.29 billion in 2024, representing a 51 per cent year-on-year growth.

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

Investment Income

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.

Cost Efficiency: Major Improvement

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

Balance Sheet: Stable and Strengthening

Total assets increased by 6.5% 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% 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% of total assets.

Total Liabilities rose to ₦7.44 billion from ₦5.81 billion in 2024. despite this, the insurer’s equity base strengthened significantly.

Total Shareholders’ Fund (Equity) rose by 16.6% to ₦14.38 billion as against ₦12.33 billion 2024, showing improved value and solid financials.

If these trends continue into Q4, Universal Insurance could close the year with one of its strongest performances in years.

Universal Insurance Plc’s 9-month 2025 result reflects: Robust premium growth, Exceptional cost control, a dramatic rebound in investment performance and
Improved profitability and capital strength