Veritas Kapital Assurance Plc
has announced impressive financial results for the first half of 2025,
reinforcing its resilience and leadership in Nigeria’s non-life insurance
sector despite prevailing economic headwinds.
The company recorded N13.6 billion in Gross
Premium Written, representing an 8% year-on-year increase and reflecting
its strong market presence and effective distribution network.
Net Insurance & Investment Income surged 244%
to N5.2 billion, up from N1.52 billion in the full year of 2024,
while Profit After Tax climbed to N3.2 billion — already
surpassing the company’s total profit for the whole of last year.
“These results affirm the strength of our
values-driven business model, built on the dedication of our people, the
clarity of our strategy, and our unwavering focus on customer value,” said Dr.
Adaobi Nwakuche, Managing Director/CEO of Veritas Kapital Assurance Plc.
Total Assets grew by 11% to N37 billion
from N33.1 billion in 2024, while Shareholders’ Funds rose to N15.1
billion from N11.92 billion in the same period, signalling improved
financial health, investor confidence, and sound governance practices.
The robust performance was attributed to disciplined
underwriting, investment optimisation, expanded digital
capabilities, and a customer-centric approach. Beyond financial
growth, Veritas Kapital says the results reflect its commitment to delivering
reliable, relevant, and responsive solutions to individuals, businesses, and
communities.
“Each figure tells a story of protection delivered,
promises honoured, and futures secured,” Dr. Nwakuche added. “We are building
trust, not just growing profits.”
Looking ahead, the company plans to sustain its
momentum in the second half of the year by deepening customer engagement,
strengthening broker relationships, and driving product innovation
to meet evolving market demands.
Veritas Kapital Assurance Plc remains one of Nigeria’s
leading non-life insurance providers, offering comprehensive risk solutions to
individuals, SMEs, and corporate clients. Leveraging technology, transparency,
and human-centred service, the company says it is redefining the insurance
experience in Nigeria.
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