Prime Business Africa
Between January and September 2025, Guinea Insurance recorded N2.13 billion in revenue, compared to the N2.03 billion reported in the first nine months of 2024, representing a 4.93 percent growth.
According to the company’s financial statement for the period ended September 30, 2025, Guinea Insurance’s expenses for the period fell by 10.20 percent year-on-year, from N981.99 million to N881.74 million.
Join our WhatsApp ChannelGuinea Insurance also reported that net expenses on reinsurance contracts increased by 164.99 percent to N549.65 million between January and September 2025, surpassing the N207.41 million recorded in the same period in 2024.
This led to the company’s insurance service result declining to N706.05 million during the period under review, below the N847.51 million reported in 2024, indicating a 16.69 percent drop.
Similarly, net investment income fell by 11.29 percent to N556.76 million between the first quarter (Q1) and the third quarter (Q3) of this year, compared to the previous year’s N627.65 million.
In the financial statement, the insurer also disclosed that it recorded zero insurance finance income or expense from insurance contracts issued in 2025, compared to the N59.36 million recorded in the previous year.
Also, Guinea Insurance recorded zero insurance finance income from reinsurance contracts held during the review period this year, against the N20.08 million posted in 2024.
Guinea Insurance added that it recorded zero net insurance finance expenses in the first nine months of 2025, compared to the N39.27 million reported in the corresponding period last year.
The company also revealed that the net insurance and investment result was N1.26 billion between Q1 and Q3 of this year, falling below the N1.43 billion recorded in the same period in 2024, indicating a 12.05 percent decline.
In the earnings report, the insurer said other operating income increased by 244.18 percent year-on-year, from N11.36 million to N39.12 million, and other operating expenses rose by 42.43 percent, from N879.60 million to N1.25 billion.
However, Guinea Insurance added that profit before taxation (PBT) dropped by 91.35 percent to N49,09 million between January and Sepetmber 2025, compared to the N567,66 million recorded in the first nine months of last year.
Consequently, income tax nosedived by 7.19 percent year-on-year, from N12.33 million to N11.44 million.
Also, Guinea Insurance failed to replicate the N555.32 million profit after tax (PAT) reported in the first nine months of 2024, as the company recorded N37.65 million PAT during the same period in 2025, representing a 93.21 percent decrease.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
