Sovereign Trust Insurance Plc reported a full-year claims payout of N6.05 billion in 2025, up from N4.2 billion in 2024, reflecting increased policyholder activity.
According to the new Managing Director/CEO, Dr. Lucas Durojaiye, the company aims to reach additional segments of the Nigerian market.
Dr. Durojaiye succeeded Mr. Olaotan Soyinka, taking over leadership as the company enters its next phase.
He noted plans to expand the company’s reach and provide insurance services to more Nigerians nationwide.
What the data is saying
In the 2025 financial year, the company reported insurance revenue of N44.6 billion, up 10.32% from N40.4 billion in FY2024.
- Of this, received premiums made up the bulk at N46.2 billion, up from N42 billion in FY2024, which, after accounting for a net liability of N1.6 billion from remaining coverage, left revenue at N44.6 billion.
After service expenses of N21.9 billion and reinsurance expenses of N18.5 billion, the insurance service result settled at N4.1 billion, down from N6.6 billion in the prior year.
On the investment side, investment income from financial assets stood at N1.53 billion.
- After accounting for N4.8 billion in other operating expenses, the net investment and insurance result totaled N1.025 billion, directly translating to pre-tax profit of N1.025 billion.
After tax of N182.4 million, profit after tax settled at N842.6 million.
Speaking on this, Dr. Durojaiye stated, “Our 2025 performance is proof of the trust our clients place in us.”
Get up to speed
Shares of the company had a strong run in the 2025 financial year on the Nigerian Exchange, rising over 241% year-on-year.
The performance was not just about price; market volume reached 6 billion shares, the highest the equity has ever recorded, with a peak of N3.90 in October 2025.
However, year-to-date in 2026, the company’s shares have declined to N2.10 on the Nigerian Exchange.
This dip may attract investors seeking lower entry points, potentially supporting price recovery above N3.82.
What to know
The company currently reports total assets of N29.1 billion, an increase from N28.3 billion in the previous period, with cash and cash equivalents of N11.9 billion representing the largest portion of its total assets.
- Insurance contract liabilities make up 55.18% of the company’s total liabilities, amounting to N13.05 billion, reflecting obligations arising from underwriting activities and policyholder commitments.
- Shareholders’ funds stand at N15.9 billion, supported by retained earnings of N621.3 million, which form a significant part of the company’s equity base and financial foundation.
