Worldwide Power Insurance coverage posts N688.8 million revenue in 2025 regardless of softer income 

Worldwide Power Insurance coverage Plc has reported a pre-tax revenue of N688.8 million in its full-year monetary assertion for 2025.

Whereas this marks a decline from the N3.1 billion recorded in 2024, it is a optimistic exhibiting all the identical, whilst income eased in comparison with the earlier yr.

Full-year insurance coverage income, which largely drives the corporate’s earnings, stood at N4.08 billion, down 27.37% from N5.6 billion in 2024.

Key highlights (FY2025 vs FY2024) 

• Insurance coverage income: N4.08 billion, down 27.37% YoY
• Insurance coverage service consequence: N1.4 billion vs N3.4 billion
• Funding revenue: N833.3 million, up 94.03% YoY
• Internet good points on funding property: N185.3 million vs N1.9 billion
• Internet funding revenue: N1.1 billion vs N2.4 billion
• Internet insurance coverage & funding consequence: N2.5 billion vs N5.8 billion
• Working bills: N1.7 billion vs N2.6 billion
• Pre-tax revenue: N688.8 million vs N3.1 billion
• Premiums obtained: N3.3 billion vs N4.3 billion

What the corporate’s books are saying 

The corporate’s complete insurance coverage income for 2025 was N4.08 billion, all from insurance coverage contracts acknowledged utilizing the Premium Allocation Method (PAA).

Much less favourably, insurance coverage bills rose to N2.1 billion, up 12.53%, whereas web reinsurance prices elevated 46.99% to N488.9 million.

• In consequence, the insurance coverage service consequence declined to N1.4 billion from N3.4 billion in 2024, reflecting increased prices, although it nonetheless contributed to total earnings.

On the funding facet, revenue rose 94% to N833.3 million, largely pushed by curiosity from bank deposits (N739.6 million).

Nonetheless, web good points on funding properties fell sharply to N185.3 million from N1.9 billion, and a small international trade lack of N536,000 additional restricted returns.

• In consequence, web funding revenue declined to N1.1 billion from N2.4 billion in 2024.

After accounting for working bills of N1.7 billion and different objects, together with N255.5 million in different revenue, pre-tax revenue settled at N688.8 million.

Steadiness sheet efficiency 

On the stability sheet, complete property had been valued at N15.8 billion in 2025, barely decrease than N16.8 billion reported in 2024.

• Funding properties (N4.6 billion), monetary property at amortized price (N4.07 billion), and money and money equivalents (N3.6 billion) had been the main contributors.

Favorably, liabilities fell sharply to N6.8 billion from N24.4 billion, primarily as a consequence of a discount in borrowings to N2.8 billion from N16.4 billion.

Complete fairness improved to N8.9 billion, with retained earnings rebounding from a lack of N22.3 billion to a optimistic N145.2 million.

What to know 

• Premiums obtained fell to N3.3 billion from N4.3 billion.
• Claims and advantages paid rose to N735.9 million from N628.4 million, reflecting increased insurance coverage exercise.
• Regardless of weaker top-line efficiency, the firm maintained profitability by funding good points and price administration.
• Yr-to-date, the corporate’s shares are up 24% on the Nigerian Trade in 2026.