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Coronation Insurance Revenue Grows By 51% to N74.8bn in FY2025

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Coronation Insurance Plc has reported significant growth in insurance revenue and balance-sheet strength for the financial year ended December 31, 2025.

A statement released by the insurer after its 68th Annual General Meeting held in Lagos, the company’s Group insurance revenue rose by 51% N74.8 billion when compared with N49.5 billion achieved in 2024.

Insurance service result also rose by 93%from N5.5 billion to N10.6 billion during the year, while total assets rose by 27.7% cent to N98.1 billion.

Shareholders’ funds increased by 21.9% from 39.8 billion to N48.5 billion.

Profit before tax, however, declined to N9.6 billion from N13.8 billion in 2024, principally because the Company did not record the significant net foreign exchange gain that contributed to the previous year’s result.

Speaking at the AGM, Mutiu Sunmonu, Chairman, Coronation Insurance Plc, said the Company’s 2025 performance demonstrated the importance of building resilience while navigating a changing operating environment.

“The performance of Coronation Insurance in 2025 reflects a business that continued to grow while responding responsibly to significant changes in the market. Our focus remains on strengthening the business, protecting policyholders and creating sustainable value for our shareholders.”

Olamide Olajolo, Managing Director/CEO, Coronation Insurance Plc, said the Company’s revenue growth reflected the strength of its diversified business model, distribution capabilities and customer-focused strategy.

“We entered 2026 with a stronger operating platform, a broader distribution base and greater capacity to respond to the evolving needs of our customers. Our task now is to translate that foundation into deeper market participation, stronger customer relationships and sustainable growth.”

The Company also highlighted the performance of its bancassurance partnership with Access Bank, which generated N19.4 billion in Gross Written Premium for the Group in 2025, compared with N13.6 billion in 2024.

A representative of the Company’s shareholders, Mrs. BisiBakare, said:“We commend the Board, Management and staff for successfully meeting the recapitalisation requirements. We also recognise the progress recorded by the Company during the year. This achievement reflects the strength and resilience of the business, and we look forward to seeing the Company build on this foundation to deliver sustained growth and greater value for shareholders.”

The AGM considered the Company’s audited financial statements and other resolutions relating to its governance, Board composition, Audit Committee and future oversight

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Business

NPA to fix rail, logistics gaps at inland dry ports

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The Nigerian Ports Authority (NPA) has moved to address rail connectivity and logistics challenges affecting inland dry ports as part of efforts to integrate the facilities into the nation’s port system and improve cargo movement across the country.

The move followed a meeting between the NPA management, led by its Managing Director, Abubakar Dantsoho, and the Executive Director of Dala Inland Dry Port, Ahmad Rabiu, alongside representatives of Funtua Inland Dry Port, at the authority’s corporate headquarters in Marina, Lagos.

The engagement came after the Minister of Marine and Blue Economy, Adegboyega Oyetola, directed the transfer of operational oversight of inland dry ports to the NPA.

The discussions focused on strengthening institutional collaboration, addressing infrastructure constraints and improving operational efficiency across Nigeria’s maritime logistics chain.

Speaking during the meeting, Mr Dantsoho stressed the need to upgrade inland dry port infrastructure and technical capacity to complement ongoing modernisation efforts at the nation’s seaports.

He said the facilities must be equipped to handle increasing cargo volumes and support the broader transformation of Nigeria’s maritime sector.

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“For our Inland Dry Ports to function at the same velocity as the ongoing modernisation across our seaports, we must proactively upgrade dry port infrastructure and technical capacity,” Mr Dantsoho said.

He explained that the integration of digital platforms, including the Port Community System (PCS) and the National Single Window, into seaport operations must be matched by corresponding improvements at inland dry ports.

“As we integrate digital systems such as the Port Community System (PCS) and the National Single Window in our seaports, the dry ports must deploy modern equipment and advanced technical capabilities to handle larger cargo volumes and bigger vessels coming to our coast,” he added.

Increased private-sector investment

The NPA managing director also called for increased private-sector investment in inland dry port infrastructure, noting that stronger investment would be critical to improving cargo handling capacity and operational efficiency.

He cited APM Terminals’ establishment of an Export Processing Terminal in Northern Nigeria as an example of private-sector participation in the development of inland logistics infrastructure.

ALSO READ: INVESTIGATION: Ganduje embroiled in multi-billion naira Kano dry port ownership scandal

Mr Dantsoho assured stakeholders that efforts to optimise the inland port system were underway and confirmed plans to visit the Dala and Funtua facilities to assess their operational conditions and infrastructure requirements.

Operational oversight

Speaking on behalf of the delegation, Hassan Bello welcomed the transfer of operational oversight to the NPA, expressing appreciation for what he described as a seamless transition.

Mr Bello referenced the gazetted Port Act, which recognises inland dry ports as official ports of origin and destination, while drawing attention to challenges confronting the facilities, particularly inadequate rail connectivity and broader logistics constraints.

Rail access is a critical component of inland dry port operations, as efficient connections to the national rail network can facilitate cargo movement between seaports and inland destinations, potentially reducing pressure on road transport and lowering logistics costs.

The meeting also established a framework for further technical consultations, infrastructure integration and physical planning to identify the requirements for improving operations at the facilities.

The discussions highlighted the need for detailed technical assessments, stakeholder coordination and physical inspections to establish infrastructure priorities and guide subsequent project development.

The planned visits to Dala and Funtua inland dry ports are expected to provide NPA with a clearer understanding of the facilities’ operational challenges and the interventions required to strengthen their roles in cargo distribution, trade facilitation and wider maritime logistics network.


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Veritas Kapital CEO Nwakuche Joins Coal City University Governing Council

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BY NKECHI NAECHE-ESEZOBOR—The Managing Director/Chief Executive Officer of Veritas Kapital Assurance Plc, Dr. Adaobi Nwakuche, has  been appointed and inaugurated as a member of the Governing Council of Coal City University, Enugu, extending her leadership engagement into the higher education sector.

The Governing council, chaired by retired Lieutenant General Azubuike Ihejirika, former Chief of Army Staff, brings together professionals from diverse backgrounds to provide strategic direction and governance oversight for the institution.

Dr. Nwakuche’s appointment represents an opportunity to bring her enviable wealth is experience in Nigeria’s insurance industry to a higher education institution focused on academic development, institutional growth and the preparation of graduates for professional and entrepreneurial opportunities.

As MD/CEO of Veritas Kapital Assurance Plc, Dr. Nwakuche leads a Nigerian non-life insurance company in an industry where strategic decision-making, risk management, accountability and stakeholder engagement are essential to organisational performance.

Her participation in the university’s Governing Council extends this professional experience into a different institutional setting.

The Governing Council plays an important role in guiding the university’s strategic priorities, strengthening governance and supporting its long-term sustainability.

The participation of experienced professionals from the private sector can also foster cross-sector perspectives on institutional management, human capital development and organisational effectiveness.

Dr. Nwakuche’s appointment highlights the value of professional engagement beyond traditional industry boundaries and the role experienced leaders can play in supporting institutions across different sectors.

Veritas Kapital Assurance Plc congratulates Dr. Nwakuche on her inauguration and wishes her a successful and impactful tenure on the Governing Council of Coal City University.

The post Veritas Kapital CEO Nwakuche Joins Coal City University Governing Council appeared first on Business Today NG.

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