Nigeria’s insurance sector closed Q3 2025 with a broadly positive performance, driven by strong revenue growth among leading underwriters despite ongoing macroeconomic challenges.
Q3 financials show rising gross insurance revenue, higher investment income, and mixed profitability, mainly influenced by increasing claims and service expenses.
Below is a ranking of insurers by Q3 2025 insurance revenue, along with key financial highlights.
Insurers that generated the largest insurance revenue in Q3 2025
Coronation Insurance posted N6.95 billion in insurance revenue for Q3 2025, up 24.02% from N5.60 billion. Profit after tax rose to N232 million, up 119.37%, while profit before tax fell by 32.26% to N5.93 billion.
The company faced significant underwriting pressure, evidenced by claims paid amounting to N11.94 billion and an insurance service expense of N10.37 billion, resulting in a high loss ratio of 149.25%. This indicated that claims far exceeded premium revenue during the period.
Coronation’s net investment income contributed N2.95 billion, while total assets and equity stood at N103.10 billion and N44.82 billion, respectively. Overall performance metrics show an investment yield of 5.35%. Return on asset (ROA) was 0.23% and return on equities (ROE) was 0.52%, highlighting a challenging underwriting environment despite slight improvements in bottom-line profit.
