Linkage Assurance Plc has released its financial results for the first quarter ended 31 March 2025, reporting a pre-tax profit of N829.5 million—up 7.83% from the N769.3 million recorded in the same period of 2024.
The rise in earnings was supported by higher insurance revenue, which reached N6.05 billion—an 18.2% increase from N5.1 billion a year earlier.
- Most of the revenue came from the oil and gas segment, contributing N7.5 billion, followed by motor and fire insurance at N5.07 billion and N3.7 billion respectively, with other business lines accounting for the remainder.
Cost efficiency also played a key role in the company’s improved results. Insurance service expenses were trimmed by 5.36%, which helped lift the ‘insurance service result before reinsurance’ to N2.1 billion—up from N1.04 billion in the same period last year.
However, total investment income saw a decline, falling to N1.6 billion from N2.8 billion year-on-year.
During the quarter, Linkage Assurance received N8.3 billion in premiums from policyholders—a significant drop from the N24 billion reported the previous year.
Meanwhile, claims paid also declined sharply to N1.2 billion, down from N4.5 billion.
On the balance sheet, total assets rose to N69.5 billion, reflecting a 5.97% increase. Retained earnings also grew by 10.08%, standing at N5.01 billion.
Key highlights
- Insurance revenue: N6.05 billion (+18.20% YoY)
- Insurance service expenses: N3.8 billion (−5.36% YoY)
- Total investment income: N1.6 billion (−41.50% YoY)
- Pre-tax profit: N829.5 million (+7.83% YoY)
- Total assets: N69.5 billion (+5.97% YoY)
- Retained earnings: N5.01 billion (+10.08% YoY)
- Premiums received from policy holders: N8.3 billion (−65.30% YoY)
As of the trading day ended 20 May 2025, shares of the company were priced at N1.48, with a year-to-date performance of 10.45%.
