Linkage Assurance Plc reported a pre-tax profit of N4.3 billion for the 2025 year, according to its latest financial statement filed on the Nigerian Exchange.
This represents a decline from the N5.2 billion recorded a year earlier.
Profitability was largely supported by strong top-line growth, with insurance revenue rising 24.13% year-on-year to N27.5 billion, up from N22.2 billion.
This growth was mirrored in underwriting operations, as premiums received increased by 15.8% to N27.8 billion, while claims paid rose to N5.9 billion, signaling heightened insurance activity across the business.
Key Highlights (FY 2025 vs FY 2024)
- Insurance revenue: N27.5 billion, up 24.13% YoY
- Insurance service result: N1.6 billion, up 118.04% YoY
- Total investment income: N7.9 billion vs N9.4 billion
- Net insurance and investment result: N9.5 billion vs N10.3 billion
- Other operating expenses: N5.2 billion, up 2.18% YoY
- Pre-tax profit: N4.3 billion vs N5.2 billion
- Received premiums: N27.8 billion, up 15.81% YoY
- Claims paid: N5.9 billion vs N4.5 billion
What the company’s books are saying
Of the total insurance revenue of N27.5 billion, oil and gas insurance contributed the most at N9.1 billion.
- This was followed by motor insurance at N7.2 billion, fire insurance at N4.5 billion, and accident insurance at N2.5 billion, with other product lines making up the remainder.
Alongside higher revenue, insurance expenses also rose sharply, increasing 24.26% to N18.6 billion. As a result, the insurance result before accounting for reinsurance stood at N8.9 billion.
- After factoring in net expenses from reinsurance contracts of N7.3 billion, the insurance service result was N1.6 billion, up from N766.9 million in 2024.
On the investment side, the company earned N4.6 billion from interest revenue and N3.8 billion from trading income.
Fair value gains on financial assets of N110.2 million, together with other losses of N657.9 million and the absence of credit loss write-backs, brought total investment income to N7.9 billion, down 15.87% from the prior year.
- Combined with the insurance service result, this yielded a net insurance and investment result of N9.5 billion, compared with N10.3 billion in 2024.
After accounting for other operating expenses of N5.2 billion, pre-tax profit stood at N4.3 billion, down from N5.2 billion in the previous year.
Balance sheet
Linkage Assurance’s total assets grew to N70.1 billion in 2025, up from N65.6 billion the previous year, with investment securities leading the way, accounting for 76% of total assets.
On the liabilities side, total obligations edged up to N23.2 billion from N22.8 billion, driven mainly by insurance contract liabilities, which made up 79% of the total.
Meanwhile, shareholder equity strengthened, rising 9.44% to N46.8 billion, supported mainly by fair value reserves totaling N22.7 billion. Retained earnings alone increased to N6.2 billion from N4.5 billion.
What to know
- Premiums received rose to N27.8 billion from N24 billion, reflecting stronger insurance activity.
- Claims paid increased to N5.9 billion from N4.5 billion, in line with higher underwriting.
- Despite rising expenses, the company remained profitable, supported by investment income and cost management.
Year-to-date, the company’s shares are up more than 15% on the Nigerian Exchange, as of mid-trading on 30 January 2026.
