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By Henry Uche
Universal Insurance Plc has attributed its strong financial results a series of strategic investment decisions and choices it made since the beginning of the year 2025.
The Company said, among other factors, investment discipline of its decision makers gives it an edge over others in the market. This is even as the insurer strengthened its market footprint with 388% surge in profit, while Gross Premium Written (GPW) hits N18.59bn from N12.29bn in 2024, representing a 51% year-on-year growth.
For its Prudence in financial management, its Profit After Tax in 9 months (January to September), went up to N1.13 billion, up from N230.6 million in the same period of 2024 — a 388% increase, while Profit Before Tax grew to N1.13bn, compared to N232 million reported in the corresponding period of 2024.
With improvement in business activities, Insurance revenue also increased by 49%, climbing to N14.68bn from N9.85bn a year earlier.
Its insurance service results declined from N3.25bn in 2024 to N1.13bn in 2025, a substantial proof of improvement in investment performance. Investment and fair-value income rebounded to a combined gain of N2.31bn, compared to a loss of N753 million in 2024, reflecting stronger asset valuations and improved yields on financial instruments.
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The insurer’s net insurance and investment result doubled to N5.18bn, up from N2.61bn in 2024. With a careful cost management and efficiency, administrative expenses fell significantly from N4.05bn to N845.5 million.
Its balance sheet shows a stability and strength as total assets increased by 6.5% to N23.63bn as of September 2025, compared to N22.19bn at the end of December 2024. Shareholders’ funds grew by 7.5% to N16.09bn, 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 N6.57bn from N5.88bn, 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 ₦7.44bn from ₦5.81bn in 2024. despite this, the insurer’s equity base strengthened significantly. Total Shareholders’ Fund (Equity) rose by 16.6% to ₦14.38bn as against ₦12.33bn 2024, showing improved value and solid financials.
The Managing Director, Dr. Jeff Duru said, hopefully, if this trend continues, the company could close the year with one of its strongest performances ever recorded.
“For us, Universal Insurance Plc’s 9-month 2025 result reflect s robust premium growth, exceptional cost control, a dramatic rebound in investment performance, improved profitability and capital strength” he maintained.
