Underwriting firm, Linkage Assurance Plc has recorded 31 percent growth in profit after tax (PAT) to N4.09 billion in the nine months ended September 2026, despite the challenging business environment.
The insurer’s unaudited financial results submitted to the NGX Limited for shareholders and investors showed that PAT rose from N3.12 billion recorded in the corresponding period of 2025 to N4.09 billion in the review period, while profit before tax increased by 29 percent to N4.32 billion from N3.34 billion.
The growth in profitability was largely supported by investment and other income, which rose 27 percent to N7.71 billion from N6.05 billion a year earlier, helping the company manage rising claims and other insurance-related costs during the review period.
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Insurance revenue increased by six percent to N20.55 billion from N19.30 billion, reflecting growth in the company’s insurance business, while the company continues to meet its obligation to customers as reflected in gross claims pay out of N5.59 billion during the nine-month period, compared with N4.02 billion in the corresponding period of 2025.
On the balance sheet, the insurer recorded stronger growth, with total assets increasing by 31 percent to N100.83 billion as of September 30, 2026, compared with N76.90 billion at the end of December 2025.
In its outlook, Linkage Assurance said its strategic focus for 2026 is centred on consolidation, with emphasis on business growth, operational excellence, financial excellence, and customer and people development.
Daniel Braie, managing director/CEO, Linkage Assurance Plc said the company’s strategy would guide its efforts to increase market share in profitable business segments while improving customer experience in an increasingly competitive insurance market.
He also identified technology and digital transformation as important components of its growth strategy, particularly in improving products and services for direct and personal insurance customers.
Braie said, Linkage would offer customers different motor insurance options based on their risk exposure, willingness and ability to pay, while continuing its brand awareness and customer value initiatives.
Linkage Assurance’s nine-month performance comes as Nigeria’s insurance industry enters a new phase following the recapitalisation exercise, which has increased expectations for stronger underwriting capacity, improved claims settlement and more sustainable business growth.
Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.
