Mutual Benefits Assurance Plc has released its audited financial results for the year ended December 31, 2025, reporting a 19.6 per cent growth in insurance revenue to ₦80.05 billion from ₦66.92 billion recorded in 2024.

Profit before tax climbed to ₦17.41 billion, representing a 47.5 per cent increase from ₦11.80 billion in the previous year, while profit after tax rose to ₦16.42 billion from ₦11.32 billion in 2024.

The insurer also strengthened its balance sheet during the period, with total assets rising to ₦176.25 billion from ₦147.13 billion in the prior year.

Total equity increased to ₦69.73 billion from ₦54.79 billion in 2024, supported by retained earnings growth and improved profitability.

Earnings per share rose to 81 kobo from 54 kobo, reflecting enhanced shareholder value during the year under review.

Mutual Benefits recorded notable growth in investment income, with net investment income increasing to ₦19.87 billion, driven by higher interest income, fair value gains and disciplined portfolio management. Interest income alone stood at ₦10.88 billion during the period.

Operationally, the company reported a sharp improvement in insurance service result, which rose to ₦8.77 billion from ₦1.07 billion in 2024.

The performance was attributed to stronger underwriting discipline, improved claims management and more effective reinsurance arrangements.

Financial assets measured at amortised cost increased significantly to ₦86.99 billion, contributing to the expansion of the group’s investment portfolio and overall asset base.

Shareholders’ funds attributable to owners of the parent company also strengthened to ₦65.00 billion, underscoring the company’s continued capital growth and prudent financial management.

Commenting on the results, the Managing Director of Mutual Benefits Assurance Plc, Olufemi Asenuga, said the performance reflected the success of the company’s long-term growth strategy and operational transformation initiatives.

“The 2025 results demonstrate the strength of our underwriting discipline, the resilience of our investment strategy and the effectiveness of our ongoing transformation agenda. We remain committed to delivering sustainable value to our policyholders, shareholders and all stakeholders, while strengthening our leadership position in Nigeria’s insurance industry,” he said.

The company said it would continue to focus on digital transformation, operational efficiency and enhanced customer experience as part of its long-term growth strategy.

Looking ahead, Mutual Benefits plans to deepen its digital distribution channels, improve claims efficiency and expand across retail and corporate insurance segments in Nigeria and selected African markets.

NEM Insurance Plc has further reinforced confidence among its policyholders following the payment of N45.91 billion in claims during the 2025 financial year.

The figure, disclosed in the company’s audited results for the year ended December 31, 2025, highlights the insurer’s continued commitment to meeting obligations promptly and maintaining strong operational credibility within Nigeria’s insurance industry.

The 2025 claims payout represents a substantial rise from the N24.99 billion paid in the 2024 financial year, highlighting the Group’s growing commitment to meeting its obligations to policyholders and strengthening trust in its operations.

Figures obtained from the NGX showed the parent company paid N41.46bn in 2025 from N24.24bn in 2024.

Industry observers note that timely and efficient claims settlement remains a critical factor in driving insurance penetration in Nigeria.

With its strong capital base, expanding customer network, and increasing investment income, NEM Insurance Plc is well-positioned to deliver sustainable value to both shareholders and policyholders, while contributing to the growth of the insurance sector.

The company’s latest performance further underscores its standing among insurers with strong claims-paying capacity, a key indicator of financial stability and operational reliability in the industry.

GCR Ratings had upgraded NEM Insurance Plc’s national scale financial strength rating to AA+(NG) from AA(NG), with the outlook maintained as stable.

According to the rating agency, the upgrade reflects sustained strengthening in the company’s competitive position within the non-life insurance segment, supported by a sound financial profile characterised by robust risk-adjusted capitalisation, adequate liquidity, and strong earnings capacity.

The combination of increased claims payout and improved credit rating positions NEM Insurance Plc as a leading player in Nigeria’s insurance industry, capable of meeting rising customer expectations while sustaining long-term growth.