BY NKECHI NAECHE-ESEZOBOR—Veritas Kapital Assurance PLC has released its projection for third quarter ending September 30, 2026.
According to its latest earnings forecast filed with the Nigerian Exchange Plc , profit after tax is projected to stand at ₦1.45 billion.
The notice was signed by the company’s Chief Financial Officer Mojeed Somorin and Managing Director/CEO Dr. Adaobi Nwakuche.
The company expects to generate ₦7.29 billion in insurance revenue for the period. After accounting for ₦2.76 billion in insurance service expenses, the company projects an insurance service result of ₦4.52 billion before reinsurance contracts held.
Net expenses from reinsurance contracts are expected to stand at ₦2.25 billion, bringing the net insurance service result to ₦2.27 billion.
In the area of investment, Veritas Kapital is targeting ₦1.15 billion in net investment income and ₦38.73 million in net insurance finance income. Combined, these figures yield a net insurance and investment result of ₦3.42 billion.
Also, operating Income is expected to stand at ₦198.46 million while Operating Expenses: ₦1.69 billion.
They plan to generate ₦1.92 billion Profit Before Tax (PBT) and Income Tax Expense of ₦479.31 million
The company projects strong operational cash generation with ₦1.99 billion from operating activities, offset by ₦1.21 billion used in investing activities. This results in a net cash increase of ₦772.16 million for the quarter.
Veritas Kapital forecasts its cash and bank balance to grow from ₦5.86 billion at the start of the period to ₦6.64 billion by the end of Q3 2026.
