|
Getting your Trinity Audio player ready...
|
Amid tough business environment, Linkage Assurance Plc recorded insurance revenue of N19.299 billion in the first nine months of 2025, as against N16.43 billion same time in 2024, indicating a 17 percent increase.
This was driven by the company’s ability to generate more insurance revenue from business contracts in the oil and gas, marine, and fire classifications.
The insurance service result also grew to N962.02 million as at September 2025, from N723.5million in 2024, indicating a positive underwriting performance.
However, dues to high claims, as well as foreign exchange impacts in the economy which affected investment incomes, most underwriting firms including Linkage witnessed drop in bottom lines.
Read also: Linkage Assurance shareholders receive bonus issue as revenue surges 50% FY
Linkage Assurance profit before tax during the review period stood at N3.34 billion from N4.38 billion in 2024, while profit after tax was N3.12 billion, as against N4.16 the previous year.
From a balance sheet perspective, total assets grew by 8 percent to N71.09 billion as at September 2025 as against N65.68 billion in the same period in 2024, while insurance contract liabilities rose 23 percent to N21.47 billion.
“As an organization, we shall continue to refine our strategy in line with our strategic focus for the year and theme, the company said in its quarterly returns to NGX and shareholders.
“Our theme for 2025 is “Consolidation”, and this informs our strategic intent along the four pillars of Business growth, Operational excellence, financial excellence, and Customer & People. Consequently, during the year the identified strategic focus will guide as compass in our quest to navigate through the highly competitive insurance market to increase our market share in the most profitable sectors and offer excellent customer experience to all our clients.”
