Coronation Insurance Plc has released its unaudited financial results for the year ended 31 December 2025, reporting a pre-tax profit of N9.66 billion.
Although this represents a solid performance for the group, it marks a decline from the N13.8 billion recorded in the previous year, as fourth-quarter profit eased from N6.2 billion to N5.2 billion.
Both full-year and fourth-quarter results were supported by strong insurance revenue, which rose to N71.1 billion for the year, representing a 43.77% year-on-year increase.
The insurer generated N69.4 billion in received premiums in 2025, up 28.35%, while ‘gross claims paid’ surged 153.75% to N17.7 billion, reflecting heightened insurance activity.
Key Highlights
- Insurance revenue: N71.12 billion (up 43.77% YoY from N49.47 billion)
- Insurance service result: N10.91 billion (up 98.91% YoY from N5.48 billion)
- Total investment & other income: N6.6 billion (vs N11.2 billion in 2024)
- Operating profit: N9.1 billion (down 15.44% YoY from N10.76 billion)
- Pre-tax profit: N9.66 billion (down 30.02% YoY from N13.81 billion)
- Profit after tax: N7.11 billion (down 40.25% YoY from N11.91 billion)
- Total assets: N102.81 billion (up 33.88% YoY from N76.7 billion)
Driving the numbers
According to the company’s books, full-year insurance revenue of N71.1 billion, up 43.77% year-on-year, was primarily driven by contracts measured under the Premium Allocation Approach.
At the same time, insurance service expenses rose to N44.9 billion from N27.1 billion in the prior year, largely due to increased incurred claims and the amortization of insurance acquisition cash flows.
- As a result, the insurance service result stood at N26.1 billion.
- After accounting for reinsurance expenses of N15.2 billion, the net insurance result came in at N10.91 billion, compared to N5.4 billion in the previous year.
Beyond underwriting, investment income rose 150.11% to N6.39 billion, with total investment results at N6.6 billion, lower than N11.2 billion in 2024 due to negative other operating income.
Meanwhile, net insurance finance expenses widened to N2.24 billion from N93.84 million, bringing net insurance and investment results to N15.3 billion.
- After accounting for total operating expenses of N6.1 billion—including impairments—operating profit declined 15.44% year-on-year to N9.1 billion
- In addition, the share of profit from an associate fell to N557.6 million from N3 billion, resulting in a pre-tax profit of N9.6 billion.
On the balance sheet, total assets increased to N102.81 billion, mainly comprising financial assets of N42.2 billion, cash and cash equivalents of N17.5 billion, and investment in associates of N17.5 billion.
However, total liabilities rose to N54.8 billion from N37 billion, largely due to higher insurance contract liabilities. Total equity stood at N47.9 billion, up 20.70%, with retained earnings of N15.9 billion.
Market reaction
Coronation Insurance shares have shown limited movement following the results, down 1.69% month-to-date in February.
However, they are up 7.69% year-to-date, currently priced at N3.50 per share.
