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
Cornerstone grew revenue 29.88% to N12.65 billion from N9.74 billion.
The company delivered a dynamic recovery in profitability, with PBT rising by 970.17% to N1.40 billion while PAT recovered from a loss of N2.23 billion to a gain of N2.11 billion. This performance was supported by a Loss Ratio of 39.25%, indicating efficient claims management, alongside N9.96 billion in claims paid and N4.96 billion in service expenses.
Net investment income contributed N529 million, with total assets of N135.76 billion and equity of N67.88 billion.
Overall, the insurer achieved an Investment Yield of 4.18%, ROA of 1.56%, and ROE of 3.11%, highlighting improved underwriting discipline and operational recovery.
