Universal Insurance Sees Profits Soar as Investments Drive Strong Financial Growth

Universal Insurance Plc has released its financial results for the nine months ended September 2025, reporting a remarkable rise in profitability, largely driven by improved investment performance.

The insurer’s unaudited accounts for the first three quarters show profit before tax soaring by 386.79 per cent to N1.13 billion, up from N232.02 million in the same period last year. Profit after tax mirrored this growth, climbing to N1.13 billion from N230.60 million.

During the period, the company’s net insurance and investment result reached N5.18 billion, nearly doubling the N2.61 billion recorded as of September 2024. While insurance service results declined from N3.25 billion in 2024 to N1.13 billion in 2025, this was more than offset by significant investment gains. Investment income and realised fair-value gains rebounded to N473.04 million and N2.31 billion, respectively, a notable turnaround from losses in the same period last year, thanks to stronger asset valuations and higher yields on financial instruments.

The company’s growth was further supported by business expansion and operational efficiency. Gross Written Premium rose 51.26 per cent to N18.59 billion from N12.29 billion, while insurance revenue increased by 49.07 per cent to N14.68 billion from N9.85 billion.

Universal Insurance’s equity base strengthened, with Total Shareholders’ Fund rising 16.61 per cent to N14.38 billion. Retained earnings grew to N849.29 million from N476.42 million, and the revaluation reserve more than doubled to N1.57 billion from N768.33 million. Total assets increased to N21.82 billion, with liabilities at N7.44 billion as of September 2025.

The company remains focused on providing risk underwriting, financial services, and hospitality solutions to its customers.