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:
Linkage Assurance Plc occupies the 8th position with total assets of N69.9 billion as of 30 June 2025, slightly up from N65.6 billion at the end of December 2024.
- Investment securities made up the bulk of the portfolio at N51.4 billion, complemented by reinsurance contract assets of N6.4 billion and cash and cash equivalents of N4.4 billion, with the remainder spread across other assets.
During the period, liabilities rose to N25.2 billion from N22.8 billion. At the same time, total equity increased to N44.6 billion, up 4.30%.
On the income side, the company reported insurance revenue of N12.5 billion, up from N10.7 billion.
It received premiums totaling N15.9 billion from policyholders, slightly lower than the N24.04 billion recorded in December 2024, while claims dropped to N2.8 billion from N4.5 billion.
