Status Assurance Plc recorded improved outcomes for the third quarter of 2025, with each revenue earlier than tax (PBT) and revenue after tax (PAT) rising considerably, in line with the corporate’s unaudited monetary statements.
Revenue earlier than tax rose to N316.6 million in comparison with a lack of N8.03 million in Q3 2024, whereas revenue after tax surged to N241.9 million, up from N120.97 million a 12 months earlier.
Though pretax revenue for the nine-month interval declined by 66% to N761.5 million, Q3 outcomes mirrored stable income progress and beneficial properties in insurance coverage contracts issued.
Key Highlights (Q3 2025 vs Q3 2024)
- Insurance coverage Income: N6.98 billion (+40.9% YoY)
- Insurance coverage Service Bills: N6.2 billion (-30.6% YoY)
- Insurance coverage Service Outcome: N(239.5) million (vs N(81.2) million in Q3 2024)
- Whole Funding Revenue: N373.7 million (–23.4% YoY)
- Revenue Earlier than Tax: N316.7 million (vs N(8.0) million in Q3 2024)
- Revenue After Tax: N241.97 million (+100% YoY)
- Earnings per Share: 2 kobo (+100% YoY)
- Whole Belongings: N37.93 billion (–0.2% YoY)
- Whole Fairness: N20.14 billion (+4.0% YoY)
Prime-line pressured by increased reinsurance prices
Insurance coverage income for Q3 2025 rose 40.9% year-on-year to N6.98 billion, supported by progress in gross premium written, significantly throughout the motor, marine, and fireplace segments.
- Insurance coverage service bills declined to N6.2 billion from N8.9 billion a 12 months earlier, reflecting higher price administration.
Nonetheless, this enchancment was offset by a web expense from reinsurance contracts held, which amounted to N1.01 billion, in comparison with a acquire of N3.9 billion in Q3 2024.
- In consequence, the insurance coverage service outcome confirmed a wider lack of N239.5 million, in comparison with a lack of N81.2 million in the identical interval final 12 months.
Weaker funding returns, however web revenue improves
Funding revenue declined 23.40% year-on-year to N373.7 million, reflecting decrease overseas change beneficial properties and decreased honest worth changes on monetary belongings.
- Curiosity Revenue: N392.2 million (-8.1% YoY)
- Different Funding Revenue: N48.2 million (-63.5% YoY)
- Web Overseas Change loss: N(193.8) million vs (N90.7 million) in Q3 2024.
Nonetheless, supported by web beneficial properties from insurance coverage contracts issued amounting to N630.6 million, whole web insurance coverage and funding revenue rose to N764.7 million, up 88% year-on-year, serving to to strengthen general efficiency in Q3.
- Together with working revenue of N27.4 million, revenue earlier than tax rose to N316.6 million, regardless of administration bills amounting to N475.5 million.
Stability sheet place
- Whole belongings stood at N37.93 billion, a marginal 0.2% year-on-year decline, primarily as a consequence of decrease monetary belongings and money balances.
- Whole fairness rose 4% to N20.14 billion, indicating a secure capital base.
- Whole liabilities elevated 4.7% year-on-year to N17.79 billion, primarily as a consequence of increased insurance coverage liabilities, together with claims reserves and reinsurance obligations.
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