Universal Insurance Plc reported a sharp rebound in profitability for the nine months ended September 2025, as higher investment income and improved underwriting lifted the insurer’s pre-tax profit by 387.1 percent to N1.13 billion, from N232 million in the same period of 2024.
The group’s profit after tax rose similarly, up 388 percent to N1.13 billion from N230.6 million a year earlier, marking one of its strongest nine-month results in recent years. Earnings per share grew to 7.04 kobo from 1.44 kobo.
Universal’s gross written premium expanded by 51 percent year-on-year to N18.59 billion, reflecting stronger policy renewals and new business growth compared with N12.29 billion in the prior period. Insurance revenue also rose 49 percent to N14.68 billion from N9.85 billion, underlining a steady recovery in core insurance operations.
The company’s insurance service result closed at N1.13 billion, down from N3.25 billion in 2024, but this was offset by a significant rise in investment performance. Investment and fair value income swung to a combined gain of N2.31 billion from a loss of N753 million last year, reflecting stronger asset valuations and higher yields on financial instruments in 2025.
Read also: Universal Insurance PBT rises 291% full year
As a result, Universal’s net insurance and investment result more than doubled to N5.18 billion from N2.61 billion in the same period last year. Administrative expenses fell to N845.5 million from N4.05 billion in 2024, underscoring improved cost discipline.
On the balance sheet, total assets rose 6.5 percent to N23.63 billion as of September 2025, compared to N22.19 billion at the end of December 2024. Shareholders’ funds grew by 7.5 percent to N16.09 billion, driven by retained earnings which swung to a positive N428.6 million from a deficit of N139.3 million the previous year.
Insurance contract liabilities increased moderately to N6.57 billion from N5.88 billion, indicating a higher policy base. The group maintained solid capital buffers, with total equity representing roughly 68 percent of total assets.
The result highlights Universal’s successful shift toward more profitable investment management alongside underwriting growth, reinforcing its position as one of Nigeria’s more stable mid-tier insurers.