BY NKECHI NAECHE-ESEZOBOR—Linkage Assurance Plc has announced 31 per cent growth in profit after tax to N4.09 billion for the nine months ended September 30, 2026.
According to its unaudited financial statements released on the trading floor of Nigerian exchange Limited and to investing public, the insurer’s profit grew from N3.12 billion in same period of 2025 to N4.09 billion in nine months ended September 30, 2026..
The unaudited financial statements also indicated that profit before tax rose from N3.34 billion in 2025 to N4.32 billion in the period under review, representing 29 per cent increase.
Insurance revenue was not left in the good news as it rose by 6 percent to N20.55 billion, as against N19.30 billion achieved in the corresponding period of 2025.
However, insurance service went up from N12.64 billion to N17.08 billion, representing 35 per cent increase. This the company attributed to increased claims and other insurance service costs.
The company’s asset base combine with total assets increased by 31 per cent to N100.83 billion 2026 as against N76.90 billion as at December 31, 2025.
Insurance contract liabilities went up from N18.28 billion in 2025 to N22.68 billion in period under review, indicating 24 per cent increase.
Consequently, insurance service result before reinsurance contracts held moderated by 48 per cent, while the insurance service result stood at N817.16 million, representing an 11 per cent decline from N916.59 million recorded in the previous corresponding period.
Despite rising insurance service expenses, the growth in investment and other income supported the company’s improved overall profitability.
Strategic Focus and Outlook
Commenting on the company’s strategic direction, Linkage Assurance management said its 2026 corporate theme, “Consolidation”, would guide its activities across four strategic pillars: business growth, operational excellence, financial excellence, and customer and people.
According to the company, the strategic focus is intended to strengthen its competitive position in the insurance market, increase market share in the most profitable sectors and improve customer experience.
Management stated that the company would continue to refine its strategy in line with its objectives for the year, using the identified priorities as a guide in navigating the increasingly competitive insurance market.
As part of its agile business strategy, Linkage Assurance said it would leverage technology to improve its products and services, particularly for direct and personal clients.
The company noted that this approach formed part of its broader digital transformation initiatives aimed at enhancing service delivery.
It also highlighted the importance of product flexibility, particularly in motor insurance, where it intends to provide customers with different insurance options based on their risk exposures, willingness and ability to pay.
Management added that the company would sustain the positive impact of its ongoing brand rejuvenation and awareness campaign among the insuring public, reinforcing the initiative through its customer value propositions.
On organisational development, Linkage Assurance said it remained committed to promoting work-life balance among employees while reducing the cost of doing business.
As part of these efforts, the company introduced a work-from-home arrangement that allows employees to operate under a hybrid working regime.
The initiative is expected to support employee welfare while contributing to the company’s efforts to manage operating costs.
Overall, Linkage Assurance’s nine-month performance reflected improved bottom-line profitability, supported by stronger investment and other income, although the faster growth in insurance service expenses moderated its insurance service result.
