Worldwide Power Insurance coverage Plc has reported a pre-tax revenue of N688.8 million in its full-year {financial} assertion for 2025.
Whereas this marks a decline from the N3.1 billion recorded in 2024, this can be a optimistic displaying all the identical, whilst income eased in comparison with the earlier 12 months.
Full-year insurance coverage income, which largely drives the corporate’s earnings, stood at N4.08 billion, down 27.37% from N5.6 billion in 2024.
The corporate’s whole insurance coverage income for 2025 was N4.08 billion, all from insurance coverage contracts acknowledged utilizing the Premium Allocation Strategy (PAA).
Much less favourably, insurance coverage bills rose to N2.1 billion, up 12.53%, whereas web reinsurance prices elevated 46.99% to N488.9 million.
On the funding facet, earnings rose 94% to N833.3 million, largely pushed by curiosity from {bank} deposits (N739.6 million).
Nevertheless, web positive aspects on funding properties fell sharply to N185.3 million from N1.9 billion, and a small international change lack of N536,000 additional restricted returns.
After accounting for working bills of N1.7 billion and different objects, together with N255.5 million in different earnings, pre-tax revenue settled at N688.8 million.
On the stability sheet, whole property have been valued at N15.8 billion in 2025, barely decrease than N16.8 billion reported in 2024.
Favorably, liabilities fell sharply to N6.8 billion from N24.4 billion, primarily attributable to a discount in borrowings to N2.8 billion from N16.4 billion.
Complete fairness improved to N8.9 billion, with retained earnings rebounding from a lack of N22.3 billion to a optimistic N145.2 million.
