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:
Mutual Benefits Plc occupies the 4th position, reporting total assets of N164.2 billion, up from N147.1 billion at the end of December 2024.
- The largest portion of these assets comprised financial instruments at amortized cost, which amounted to N77.3 billion, while cash and cash equivalents stood at N50.6 billion.
- Reinsurance contract assets contributed N11.9 billion, with the remainder spread across other categories.
Total liabilities rose to N97.6 billion from N92.3 billion, while total equity strengthened to N66.5 billion from N54.7 billion.
Insurance revenue grew to N21.8 billion from N15.9 billion. Premiums collected from policyholders reached N47.2 billion, up from N34.2 billion, while claims paid rose to N22 billion from N11.1 billion.
