Veritas Kapital Assurance Plc has reported robust financial results for the first half of 2025 (H1 2025), highlighting sustained momentum and reinforcing its position as a resilient leader in Nigeria’s non-life insurance industry.
Amid a challenging economic environment, the company grew Profit After Tax to ₦3.2 billion, already exceeding the company’s total earnings for the full-year 2024.
Gross Premium Written rose to N13.6 billion indicating 8% increase,a testament to strong market presence and effective distribution.
Net Insurance & Investment Income surged by 244% to ₦5.2 billion, from ₦1.52 billion achieved in full-year 2024. while Profit After Tax reached ₦3.2 billion, already exceeding the company’s total earnings for the full-year 2024.
Total Assets rose by 11% to ₦37 billion from ₦33.1 billion in 2024, reflecting improved financial health and operational efficiency.
Shareholders’ Funds grew to ₦15.1 billion in H1 2025, from ₦11.92 billion in 2024, underscoring increasing investor confidence and sound governance practices.
Commenting Managing Director/CEO of Veritas Kapital Assurance Plc, Dr. Adaobi Nwakuche, said: “These results affirm the strength of our values-driven business model, built on the dedication of our people, the clarity of our strategy, and our unwavering focus on customer value.”
“Our performance is the outcome of deliberate strategic choices, including disciplined underwriting, investment optimization, expanded digital capabilities, and a strong emphasis on customer-focused service delivery.
“The H1 2025 results go beyond financial growth. They represent Veritas Kapital’s evolving role as a partner in progress, delivering solutions that are reliable, responsive, and relevant to the needs of today’s individuals, businesses, and communities.
“Each figure tells a story, of protection delivered, promises honored, and futures secured,” Dr. Nwakuche added. “We are building trust, not just growing profits.”
As Nigeria adapts to new economic dynamics, the company is charting a course defined by agility, innovation, and intentionality. TheUnderwriter is investing in digital access, claims responsiveness, and talent development,while reinforcing its core values of integrity, transparency, and service.
With the second half of the year underway, Veritas Kapital is focused on sustaining this momentum, by deepening customer engagement, strengthening broker relationships, and driving product innovation that meets evolving market needs.
“Our goal is clear: to remain a trusted ally for our customers and a growth engine for our stakeholders, not just for today, but for the future we are helping to shape,” Dr. Nwakuche concluded.
Veritas Kapital Assurance Plc is one of Nigeria’s foremost non-life insurance providers, offering reliable and accessible risk solutions to individuals, SMEs, and corporate organizations. Backed by a legacy of trust and a future powered by resilience, the company is redefining the insurance experience in Nigeria through technology, transparency, and human-centred service.
