Prime Business Africa
The Universal Insurance Plc generated N20.43 billion in revenue in 2025, exceeding the N13.76 billion reported in 2024, indicating an increase of 48.49 percent.
Also, insurance service expense grew by 68.15 percent, as the company incurred N17.69 billion between January and December last year, compared to the N10.52 billion expended during the same period in 2024.
According to analysis of the company’s audited financial statements for the year ended December 31, 2025, net expense from the reinsurance contract held increased threefold or 296.55 percent to N1.74 billion in 2025, surpassing the N440.86 billion reported the year before.
Join our WhatsApp ChannelThis impacted Universal Insurance’s service result, as it decreased to N991.05 million in 2025, down by 64.57 percent when compared to the N2.79 billion earned in 2024.
However, net investment income supported the company’s earnings with a 394.36 percent, after rising from the N854.18 million generated in 2024 to N4.22 billion last year.
This resulted in net insurance and investment rising by 27.47 percent to N4.84 billion in 2025, above the N3.79 billion recorded between the first quarter (Q1) and the fourth quarter (Q4) of 2024.
Universal Insurance reported that other expenses increased to N2.65 billion last year, compared to the N1.81 billion sustained during operations in 2024.
The company closed the period under review with N2.18 billion profit before tax (PBT), surpassing the N1.98 billion achieved between January and December of 2024, reflecting a 9.84 percent growth.
Universal Insurance was charged N190.91 million in tax expense last year, up by 299.77 percent when compared to the N47.75 billion filed as income tax in 2024.
The significant increase in tax expense slowed the growth of Universal Insurance’s profit after tax (PAT), which grew by 2.70 percent to N1.99 billion in 2025, up from N1.94 billion the year before.
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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.
