BY NKECHI NAECHE-ESEZOBOR—Veritas Kapital Assurance Plc has published its financial results for the third quarter ended September 30, 2025, reflecting yet another confident step forward in its ongoing transformation journey.
The figures demonstrate not only steady financial growth but also a deeper alignment between the company’s purpose, performance, and people-focused values.
Steady Growth in Key Financial Indicators
According to the insurer Gross Written Premium (GWP) rose to ₦18.7 billion in 2025, up from ₦18.54 billion in the same period of 2024. Insurance Revenue also increased to ₦16.31 billion in 2025, compared to ₦16.1 billion in 2024.
Claims Paid Reinforces Customer Commitment
One of the most compelling indicators of the company’s commitment to customer trust and reliability is its claims paid, which stood at an impressive ₦10.6 billion as of September 30, 2025.
This represents not just a figure, but a demonstration of the company’s unwavering commitment to prompt and efficient claims settlement, a cornerstone of Veritas Kapital’s brand promise. Every paid claim reinforces the company’s pledge to stand by its customers when it matters most, ensuring that value and protection go hand-in-hand.
Profitability Surges As PAT Rose By 44%
Profit After Tax (PAT) closed at ₦4.1 billion, representing a 44% increase over the same period in 2024, a clear indication of improved operational efficiency and disciplined execution of strategic initiatives. The Insurance Service Result expanded to ₦6.6 billion in 2025 from a negative ₦1.3 billion in 2024, while Shareholders’ Funds rose to ₦19.5 billion, underscoring Veritas Kapital’s financial stability and the unwavering confidence of its stakeholders.
Purpose Driving Performance
Speaking on the results, the Managing Director/CEO, Dr. Adaobi Nwakuche, described the performance as “a reflection of purpose translated into progress.”
“We see these results as validation that when an organization aligns its strategy with its values, growth becomes inevitable. Every milestone we achieve is built on trust, the trust of our customers, brokers, partners, and our people who continue to give their best every day.”
Dr. Nwakuche noted that the company’s renewed momentum is not merely financial but transformational, driven by innovation, disciplined underwriting, and a people-first culture.
“Our story this quarter is about more than figures. It’s about resilience, about a team that continues to deliver with heart, even in a challenging economy. We are building an institution that is not only profitable but purposeful; one that Nigerians can rely on for protection, partnership, and peace of mind.”
Transformation Programme Delivering Tangible Results
Veritas Kapital’s strong Q3 performance reflects the tangible results of its ongoing transformation programme, including optimized investments, digitized service touchpoints, enhanced claims responsiveness, and strengthened broker engagement.
Outlook: Consolidation, Innovation, and Customer Focus
As the company enters the final quarter of 2025, its focus remains on consolidating gains, deepening customer relationships, and driving product innovation that meets the evolving needs of individuals and businesses across Nigeria.
“Our growth journey is one of intentionality,” Dr. Nwakuche concluded. “We are clear about who we are, what we stand for, and the value we bring. The numbers confirm it, but our people and our purpose define it.”
About Veritas Kapital Assurance Plc
Veritas Kapital Assurance Plc is one of Nigeria’s leading non-life insurance providers, offering dependable risk solutions to individuals, SMEs, and corporate clients. With a heritage built on trust and a future anchored in resilience, the company continues to redefine the insurance experience through innovation, integrity, and a human-centered approach to service.
