Coronation Insurance Plc has announced its audited financial results for the year ending 31 December 2025, reporting a pretax profit of N9.65 billion, reflecting a 30.4% year-over-year decrease from N13.81 billion in 2024.
However, the company delivered strong performance on the revenue front, with insurance revenue growing by 51.4% to N74.83 billion, up from N49.47 billion in 2024.
Key Highlights (2025 vs 2024)
- Revenue: N74.83 billion (Up 51.4% YoY from N49.47 billion)
- Insurance Service Result: N7.30 billion (Up from N5.49 billion in 2024)
- Investment Income: N5.47 billion (Up from N2.56 billion in 2024)
- Net Insurance and Investment Revenue: N17.68 billion (Up 149% YoY from N7.10 billion)
- Profit After Tax: N7.52 billion (Down 36.8% YoY from N11.91 billion)
- Earnings per Share (EPS): 31 Kobo (Down from 50 Kobo)
- Total Assets: N98.100 billion (Up 27.74% YoY from N76.798 billion)
- Shareholders’ Funds: N48.492 billion (Up 21.96% from N39.756 billion)
Driving the Numbers
An examination of the company’s performance reveals that the overall profit for the year declined primarily due to the absence of a Net Foreign Exchange gain in 2025, compared to a significant foreign exchange gain of over N8 billion recorded in 2024.
For instance, the insurance company’s net insurance and net investment results of N17.675 billion far outweigh the 2024 N7.105 billion; a significant 148% YoY growth. This was driven by strong insurance revenue and investment income.
The Insurance service results after reinsurance contracts increased to N7.3 billion (up from N5.49 billion in 2024), driven by strong revenue generation, but partially offset by net expenses from reinsurance contracts.
- Insurance service revenue: N74.83 billion (up from N49.47 billion in 2024) drove the increase, reflecting solid demand and growth in the core business.
- The increase in insurance revenue was driven by robust growth in core insurance lines such as General Accident, Motor, and Fire insurance. Additionally, the inclusion of Coronation Life Assurance’s product offerings, especially Annuity and Group Life, significantly contributed to the revenue increase.
The insurance services expenses, which grew to N50,658,846 million from N27,276,068 million in 2024, are partly attributed to the increase in claims and benefits paid to policyholders due to the rise in insured risks and new policies issued.
Balance sheet performance
The company’s total assets grew by 28% to N98.1 billion, primarily driven by an increase in financial assets at fair value through profit or loss, which grew from N17.88 billion in 2024 to N35.48 billion in 2025.
- Additionally, the company saw growth in premium receivables, which rose to N1.80 billion, up from N1.49 billion in the previous year.
The company’s equity also showed a notable increase, rising to N48.49 billion from N39.8 billion in 2024, supported by strong retained earnings of N15.498 billion (up from N9.797 billion in 2024)
Market reaction
WAPIC closed on Thursday, April 2, 2026, at N3.19 per share, recording a 6.3% gain over its previous closing price of N3.00, but has lost 1.85% YtD.
