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:
AXA Mansard Plc ranks 3rd with total assets of N234.02 billion, rising from N193.6 billion.
- Investment securities, particularly those at fair value through OCI (Other Comprehensive Income), formed the largest portion at N110.8 billion.
- Reinsurance contract assets contributed N37.3 billion, while investment properties added N31.5 billion, with the remainder spread across other asset categories.
Although liabilities increased to N171.2 billion from N140.7 billion, total equity also grew to N62.7 billion from N52.8 billion
Insurance revenue expanded to N81.1 billion from N65.6 billion. Premiums received from policyholders reached N98.2 billion, up from N80.7 billion, while claims paid rose to N39.3 billion from N25.5 billion.
