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
LASACO delivered one of the strongest underwriting performances in the mid-tier segment for Q3 2025, posting N18.24 billion in revenue, up 42.99% from N12.76 billion. Profitability improved significantly, with PAT rising to N3.94 billion (34.40%) and PBT reaching N1.18 billion, a substantial 142% surge, from a loss of N2.81 billion in Q3 2024.
Claims totaled N6.38 billion, with a low loss ratio of 34.98%, reflecting strong claims management. Investment income was N1.00 billion. LASACO’s total assets and equity stood at N42.34 billion and N22.22 billion, respectively, supported by a net investment income of N1.00 billion. With an investment yield of 5.48%, robust ROA of 9.30% and ROE of 17.71%, LASACO emerged as one of the standout performers in Q3 2025.
