BY KECHI NAECHE-ESEZOBOR—Veritas Kapital Assurance Plc has released its earnings forecast for the first quarter ended March 31, 2026, projecting solid profitability driven by insurance operations and investment income.
According to the forecast sited on Nigerian Exchange Limited by BusinessTodayNG, the company expects insurance revenue of ₦6.01 billion during the period, against insurance service expenses of ₦1.65 billion, resulting in an insurance service result before reinsurance of ₦4.36 billion.
After accounting for net expenses from reinsurance contracts of ₦2.91 billion, Veritas Kapital’s insurance service result is projected at ₦1.45 billion.
The company is also expected to generate net investment income of ₦603.31 million, lifting the net insurance and investment result to ₦603.31 million.
However, other operating expenses estimated at ₦1.17 billion are expected to weigh on performance, bringing profit before tax to ₦877.26 million. After an income tax expense of ₦263.18 million, profit after tax is forecast at ₦614.08 million.
On the cash flow front, Veritas Kapital projects net cash generated from operating activities of ₦877.26 million, while cash flow from investing activities is estimated at ₦603.31 million. This is expected to result in a net increase in cash and cash equivalents of ₦1.48 billion during the quarter.
The company’s cash and bank balance is projected to rise from ₦7.18 billion at the beginning of the period to ₦8.66 billion at the end of the quarter, reflecting improved liquidity and a stronger balance sheet position.
