Veritas Kapital Assurance Plc has announced strong performance for the third quarter ended September 30, 2025, reflecting confident stride in its transformation journey with N10.6 billion pay out on claims.
From a top line perspective, Gross Written Premium (GWP) rose to N18.7 billion, up from N18.54 billion in the same period of 2024, while insurance revenue also increased to N16.31 billion in 2025, compared to N16.1 billion.
“The company’s latest performance underscores not only sustained financial growth but also a deeper alignment between purpose, performance, and people, the firm said.
Speaking on the results, Adaobi Nwakuche, managing director/CEO, 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.”
On the claims pay out, Nwakuche said 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.”
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Profit After Tax (PAT) during the review period closed at N4.1 billion, representing a 44 percent 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 N6.6 billion in 2025 from a negative N1.3 billion in 2024, while Shareholders’ Funds rose to N19.5 billion, underscoring Veritas Kapital’s financial stability and the unwavering confidence of its stakeholders.
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.”
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.
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.
