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FX losses erase insurers’ 2025 profit gains

By nigeriaglobaltrend

February 23, 2026

Insurance companies closed the 2025 financial year with stronger top-line growth and resilient underwriting performance, but headline profitability was constrained by foreign exchange (FX) losses and rising claims costs.

An analysis of the audited results of 14 quoted insurers filed with NGX Limited shows that aggregate insurance revenue rose from N541.28 billion in 2024 to N655.02 billion in 2025, reflecting improved premium mobilisation and business expansion across life and non-life segments.

However, profit before tax (PBT) was largel

Insurance companies closed the 2025 financial year with stronger top-line growth and resilient underwriting performance, but headline profitability was constrained by foreign exchange (FX) losses and rising claims costs.

An analysis of the audited results of 14 quoted insurers filed with NGX Limited shows that aggregate insurance revenue rose from N541.28 billion in 2024 to N655.02 billion in 2025, reflecting improved premium mobilisation and business expansion across life and non-life segments.

However, profit before tax (PBT) was largel

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