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:
Claiming the 5th spot, NEM Insurance Plc reported total assets of N159.9 billion, up from N121.9 billion at the close of December 2024.
- The bulk of these assets consisted of financial investments totaling N94.4 billion, while reinsurance contract assets contributed N35.2 billion.
- Cash and cash equivalents stood at N11.8 billion, with the remaining portion distributed across other asset classes.
During the period, total liabilities increased to N83.9 billion from N56.4 billion. Meanwhile, equity expanded to N75.9 billion from N65.4 billion.
On the revenue side, the insurance company recorded N75.4 billion in H1 2025, rising from N45.4 billion the previous year. Premiums collected from policyholders reached N96.8 billion, up from N66 billion, while claims climbed to N20.5 billion from N9.1 billion.
