In the first half of 2025, 18 out of 20 insurance companies that published their financial statements reported a combined total of N2.04 trillion in assets for the period ended June 2025, up from N1.8 trillion recorded six months earlier.
This represents a 13.7% increase, reflecting the growing strength of insurance company balance sheets and the resilience of capital across the sector.
The growth in total assets is largely driven by higher investments and increased premium inflows as insurers expand their underwriting capacity and diversify their portfolios.
These developments not only support financial stability but also indicate a healthier and more sustainable insurance industry.
For investors and analysts, a strong asset base is an important measure of a company’s ability to manage risk and generate future growth.
- It can influence investment decisions and shape market sentiment, making it a key factor beyond just earnings performance.
That being said, this work focuses on the top 10 insurance companies with the largest total assets as of the first half of 2025, prioritising the actual amounts reported.
Here they are:
Consolidated Hallmark Holdings Plc takes the 9th position with total assets of N66.7 billion as of 30 June 2025, up from N56.9 billion at the end of December 2024.
- Financial assets formed the largest portion at N35.4 billion, followed by reinsurance contract assets at N9.5 billion.
- Cash and cash equivalents contributed N8.2 billion, up from N3.7 billion, with the remainder made up of other assets.
While total liabilities rose to N30.8 billion from N21.9 billion, total equity strengthened to N35.8 billion.
On the income side, insurance revenue climbed to N22.9 billion, up 79.3%.
The company received premiums of N24.7 billion from policyholders, slightly lower than N29.7 billion in the previous period, while claims paid fell to N5.3 billion from N9.06 billion.
