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:
Standing at the 7th position, Coronation recorded total assets of N100.07 billion as of 30 June 2025, up from N76.7 billion reported at the end of December 2024.
- Financial assets accounted for the largest portion at N38.1 billion, while cash and cash equivalents stood at N17.4 billion.
- Investments in associates contributed N14.9 billion, and reinsurance contract assets added N12.6 billion, with the remainder made up of other assets.
During the period, total liabilities rose to N60.5 billion from N37 billion, while total equity remained largely stable at N39.5 billion, slightly down from N39.7 billion.
On the income statement, insurance revenue climbed to N32.9 billion from N21.3 billion.
The company received premiums of N26 billion from policyholders, up from N18.8 billion, while gross claims paid increased to N5.4 billion from N2.2 billion.
