Universal Insurance Records Stunning 388% Profit Growth
Universal Insurance Plc has demonstrated remarkable financial performance, reporting an extraordinary 388 percent increase in post-tax profit for the nine-month period ending September 2025. The underwriting firm's strategic initiatives have significantly strengthened its market position in Nigeria's competitive insurance sector.
Financial Performance Breakdown
The company's financial statement reveals impressive growth across key metrics. Profit after tax surged to N1.13 billion, a substantial increase from the N230.6 million recorded during the same period in 2024. Similarly, profit before tax showed strong momentum, climbing to N1.13 billion compared to N232 million in the previous year.
The insurer's gross written premium experienced robust growth, increasing by 51 percent year-on-year to N18.59 billion from N12.29 billion in 2024. This significant jump reflects the company's enhanced business acquisition capabilities and improved underwriting capacity. Insurance revenue also saw substantial growth, rising by 49 percent to N14.68 billion from N9.85 billion a year earlier.
Investment Gains Drive Turnaround
While insurance service results declined from N3.25 billion in 2024 to N1.13 billion in 2025, the company witnessed a major rebound in investment income. Investment and fair-value gains soared to N2.31 billion, completely reversing the N753 million loss posted in 2024. This dramatic improvement in investment performance played a crucial role in the company's overall profitability.
The company's management attributed this outstanding performance to several key factors:
- Strong investment gains in the current financial period
- Sustained premium growth across business segments
- Implementation of tighter cost control measures
- Enhanced underwriting capacity and risk management
This financial turnaround represents a significant achievement for Universal Insurance Plc, positioning the company for continued growth in the Nigerian insurance market. The results demonstrate the effectiveness of the company's strategic focus on investment optimization and operational efficiency.
