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
NEM Insurance revenue rose 33.16% to N32.03 billion, from N24.05 billion. The company delivered a strong N5.03 billion PAT, up 71.82%, despite posting a negative PBT of N1.63 billion, due to claims of N30.54 billion and service expenses of N24.26 billion.
Notably, the net investment income of N5.85 billion, supported by an 18.26% investment yield.
NEM closed Q3 2025 with total assets of N165.46 billion and total equity of N80.97 billion, maintaining healthy balance sheet strength. Profitability metrics remained resilient, with ROA at 3.04% and ROE at 6.21%, reflecting efficient capital deployment.
