BY NKECHI NAECHE-ESEZOBOR—Nigeria’s retail insurance giant, Mutual Benefits Assurance Plc has reported 2.57 percent growth in Insurance Revenue to ₦42.25 billion up from ₦41.20 billion in H1 2025.
According to the group’s unaudited financial statements, released on the floor of Nigerian Exchange Plc, Total Assets appreciated by 15.46% to ₦204.00 billion as of June 30, 2026 when compared to ₦176.68 billion at year-end December 2025.
Also, its Shareholders’ Funds grew to ₦72.32 billion as against ₦65.00 billion reported in December 2025, this indicating 11.25% growth
The company’s net income from reinsurance contracts held turned around significantly to ₦3.25 billion, reversing a net expense of ₦3.73 billion recorded in the same period last year.
The company reported a net profit of ₦3.51 billion for H1 2026, down 40.48% from ₦5.90 billion in H1 2025.
The underwriter’s total assets crossed the ₦200 billion mark, driven largely by a 50.10% rise in reinsurance contract assets, which reached ₦22.49 billion (up from ₦14.98 billion in December 2025).
Total liabilities stood at ₦117.98 billion, representing a 10.31% expansion from ₦106.95 billion recorded at the end of fiscal year 2025.
