BY NKECHI BAECHE-ESEZOBOR—Underwriting firm, Linkage Assurance Plc delivered a strong earnings performance in the first half of 2026, with profit after tax rising by 74 percent to N3.11 billion despite a challenging business environment.
The company’s unaudited financial statements for the six months ended June 30, 2026, submitted to the NGX shows that profit before tax climbed 68 percent to N3.27 billion from N1.95 billion in the corresponding period of 2025, while profit after tax increased from N1.79 billion to N3.11 billion. Insurance revenue also expanded by six percent to N13.30 billion.
The result comes at a time when Nigeria’s insurance industry continues to contend with elevated inflation, rising claims costs, currency volatility and higher operating expenses, pressures that have squeezed underwriting margins across the sectors.
Although insurance revenue recorded moderate growth, insurance service expenses jumped 42 percent to N11.78 billion, underscoring the impact of claim in managing insurance business.
Linkage Assurance being strategic in operations achieved a 70 percent increase in investment and other incomes, which rose to N5.94 billion from N3.49 billion. The strong growth in investment earnings highlights how Nigerian insurers have increasingly taped on their investment portfolios to support overall profitability as elevated interest rates continue to enhance returns on government securities and other fixed-income assets.
Linkage’s balance sheet also strengthened during the period, with total assets increasing by seven percent to N82.19 billion from N76.90 billion at the end of December 2025, supported by higher investment holdings and growth in insurance-related assets.
Shareholders’ equity also rose to N49.58 billion from N46.69 billion, driven largely by retained earnings generated during the period.
Daniel Braie, Managing Director/CEO said the company would continue to pursue its 2026 strategy themed “Consolidation,” focusing on business growth, operational excellence, financial excellence and customer experience.
“We also have plans to deepen our digital transformation, expand market share in profitable business segments and strengthen our motor insurance offerings, the CEO said.
