BY NKECHI NAECHE-ESEZOBOR—Universal Insurance Plc has released its account for nine months ended September 2025,, showing significant growth in profitability and improved financial position.
The insurer profit after tax went up to N1.13 billion, up from N230.6 million in the same period of 2024 — a 388% increase while profit before tax grew to N1.13 billion, compared to N232 million reported in the corresponding period of 2024.
Premium Growth: Strong Business Expansion
Following its improved business activities, its gross written premium went up to N18.59 billion in 2025, from N12.29 billion in 2024, representing a 51% year-on-year growth.
Insurance revenue also increased by 49%, climbing to N14.68 billion from N9.85 billion a year earlier.
Investment Income
While insurance service results declined from N3.25 billion in 2024 to N1.13 billion in 2025, this was more than offset by a substantial improvement in investment performance. Investment and fair-value income rebounded to a combined gain of N2.31 billion, compared to a loss of N753 million in 2024, reflecting stronger asset valuations and improved yields on financial instruments.
The insurer’s net insurance and investment result doubled to N5.18 billion, up from N2.61 billion in 2024.
Cost Efficiency: Major Improvement
Supported by improved cost efficiency, administrative expenses fell significantly from N4.05 billion to N845.5 million.
Balance Sheet: Stable and Strengthening
Total assets increased by 6.5% to N23.63 billion as of September 2025, compared to N22.19 billion at the end of December 2024.
Shareholders’ funds grew by 7.5% to N16.09 billion, driven by retained earnings, which recovered to N428.6 million from a deficit of N139.3 million the previous year.
Insurance contract liabilities rose moderately to N6.57 billion from N5.88 billion, reflecting an expanding policy base. The group maintained strong capital buffers, with total equity accounting for approximately 68% of total assets.
Total Liabilities rose to ₦7.44 billion from ₦5.81 billion in 2024. despite this, the insurer’s equity base strengthened significantly.
Total Shareholders’ Fund (Equity) rose by 16.6% to ₦14.38 billion as against ₦12.33 billion 2024, showing improved value and solid financials.
If these trends continue into Q4, Universal Insurance could close the year with one of its strongest performances in years.
Universal Insurance Plc’s 9-month 2025 result reflects: Robust premium growth, Exceptional cost control, a dramatic rebound in investment performance.
About Universal Insurance Plc
Universal Insurance Plc, established in 1961, is a prominent Nigerian insurer specialising in Non-Life General Business.
The company provides a comprehensive suite of insurance products and services, including Motor, Fire, Burglary, Marine Cargo, Marine Hull, Aviation, Oil & Gas, Health Care Professional Indemnity, Engineering All Risks, and Contractors All Risks. With a strong presence across Nigeria, including key branches in Aba, Abuja, Enugu, Ibadan, Kaduna, Onitsha, Owerri, Port Harcourt, and Umuahia.
Universal Insurance is committed to offering specialised non-life insurance protection. The company is fully computerised, driving excellence in service delivery and customer-oriented solutions, aiming to be a giant in risk bearing within the Nigerian insurance sector.
