Linkage Assurance expects its 2025 profit to reach 4.3 billion Naira, driven by strong insurance business.

According to the latest financial report submitted by Linkage Assurance Plc to the Nigerian Stock Exchange, the company’s pre-tax profit for 2025 is 4.3 billion Naira.

This is a decrease from 5.2 billion Naira in the previous year.

The improved profitability is primarily due to strong revenue growth. Insurance revenue increased by 24.13% year-on-year to 27.5 billion Naira (previous year: 22.2 billion Naira).

This growth is also reflected in the insurance business: premium income increased by 15.8% to 27.8 billion Naira, while claims payments increased to 5.9 billion Naira. This indicates an increase in the company’s overall insurance business activity.

Of the total insurance revenue of 27.5 billion Naira, oil and gas insurance contributed the largest share, at 9.1 billion Naira.

The increase in revenue also led to a significant increase in insurance costs by 24.26%, reaching 18.6 billion Naira. Therefore, insurance income before reinsurance was 8.9 billion Nigerian Naira.

On the investment side, the company generated interest income of 4.6 billion Nigerian Naira and trading income of 3.8 billion Nigerian Naira.

Loan loss provisions of 110.2 million Nigerian Naira, plus other losses of 657.9 million Nigerian Naira, and no loan loss provisions resulted in total investment income of 7.9 billion Nigerian Naira, a decrease of 15.87% from the previous year.

Excluding other operating expenses of 5.2 billion Nigerian Naira, profit before tax was 4.3 billion Nigerian Naira, compared to 5.2 billion Nigerian Naira in the previous year.

Linkage Assurance’s total assets are projected to increase to 70.1 billion Nigerian Naira by 2025, compared to 65.6 billion Nigerian Naira in the previous year. Securities account for 76% of total assets.

On the liabilities side, total liabilities increased slightly from 22.8 billion Nigerian Naira to 23.2 billion Nigerian Naira, mainly due to… insurance contract liabilities accounting for 79% of total liabilities.

Meanwhile, equity increased by 9.44% to 46.8 billion Nigerian Naira, primarily due to a fair value provision of 22.7 billion Nigerian Naira. Retained earnings alone increased from 4.5 billion Nigerian Naira to 6.2 billion Nigerian Naira.

Since the beginning of the year, as of noon on January 30, 2026, the company’s share price on the Nigerian Stock Exchange has risen by more than 15%.