Universal Insurance posts 386% profit on investment rebound

Universal Insurance Plc has announced its financial accounts for the nine months ended September 2025, revealing a significant surge in profitability primarily fueled by enhanced investment performance.

According to the insurer’s unaudited results for the first three quarters of the year, profit before tax jumped by 386.79% to ₦1.13bn, up from ₦232.02m in the same period last year. Profit after tax also rose significantly to ₦1.13bn from ₦230.60m.

The insurer’s net insurance and investment result reached ₦5.18bn, an increase from ₦2.61bn recorded as of September 2024. A major driver of this surge was the rebound in investment performance. While insurance service results declined from ₦3.25bn in 2024 to ₦1.13bn in 2025, this was offset by strong investment gains.

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Investment income and realised fair-value gains rose sharply, yielding ₦473.04m and ₦2.31bn, respectively — a turnaround from losses reported in 2024. The improvement was attributed to stronger asset valuations and better yields on financial instruments.

Universal Insurance also recorded strong business expansion and operational efficiency. Gross Written Premium increased 51.26% year-on-year, rising to ₦18.59bn in 2025 from ₦12.29bn in 2024. Insurance revenue climbed 49.07%, reaching ₦14.68bn from ₦9.85bn a year earlier.

The company’s equity base strengthened, with Total Shareholders’ Fund rising 16.61% to ₦14.38bn compared to ₦12.33bn in 2024. Retained earnings grew to ₦849.29m from ₦476.42m, while the revaluation reserve more than doubled to ₦1.57bn from ₦768.33m.

Total assets stood at ₦21.82bn, up from ₦18.14bn, while liabilities were ₦7.44bn as of September 2025.

Universal Insurance Plc remains engaged in risk underwriting, related financial services, and hospitality services for its customers.