Universal Insurance Plc has announced its financial accounts for the nine months ended September 2025, revealing a significant surge in profitability primarily fuelled by enhanced investment performance.
According to the insurer’s unaudited results for the first three quarters of the year, its profit before tax jumped by 386.79 per cent to N1.13bn from N232.02m in the same period of last year. Expectedly, profit after tax also rose significantly to N1.13bn from N230.60m.
In the period under review, the insurer’s net insurance and investment result, which reached N5.18bn, was an increase from the N2.61bn recorded as of September 2024.
A factor driving the surge in net results and overall profitability was the substantial improvement in investment performance. While insurance service results experienced a decline from N3.25bn in 2024 to N1.13bn in 2025, this reduction was offset by investment gains.
Investment income and realised fair-value gain rebounded sharply, yielding N473.04m and N2.31bn, respectively.
This represented a significant turnaround, as the company had reported a loss from these activities in 2024. The sources attribute this substantial improvement to stronger asset valuations and improved yields on financial instruments.
The enhanced profitability was also supported by strong business expansion and improved operational efficiency. Universal Insurance’s Gross Written Premium went up 51.26 per cent year-on-year, rising to N18.59bn in 2025 from N12.29bn in 2024. Insurance revenue also increased by 49.07 per cent, climbing to N14.68bn from N9.85bn a year earlier.
The insurer’s equity base strengthened significantly. Total Shareholders’ Fund rose by 16.61 per cent to N14.38bn compared to N12.33bn in 2024, demonstrating improved value and solid financials. Retained earnings rose to N849.29m from N476.42m, as the revaluation reserve more than doubled by 104.49 per cent to N1.57bn from N768.33m.
Total assets rose to N21.82bn from N18.14bn as liabilities stood at N7.44bn as of September 2025.
