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
Prestige Assurance grew revenue 40.88% to N6.99 billion from N4.96 billion. The company’s PAT improved to N242 million, marking a 100.01% improvement from the previous year, but PBT declined by 77.98% to N310 million due to rising operational costs.
Claims paid during the period stood at N12.41 billion, while service expenses amounted to N6.21 billion, contributing to an elevated loss ratio of 88.80%. Prestige generated N374 million in net investment income.
As of Q3 2025, the insurer held total assets of N37.93 billion and total equity of N20.14 billion, translating to an investment yield of 5.35%, ROA of 0.64%, and ROE of 1.20%.
