WorldStage– African Alliance Insurance Plc has released its un-audited management account for the third quarter ended September 30, 2025, highlighting key operational numbers despite a shift in overall top-line revenue.
According to the financial statement filed with the Nigerian Exchange Group (NGX), the insurer recorded an Insurance Revenue of ₦5.52 billion for the nine-month period ending September 30, 2025, compared to ₦10.25 billion reported for the full year ended December 31, 2024.
Key Financial Highlights (Q3 2025 vs. FY 2024)
Profit Before Tax (PBT): Stood at ₦1.55 billion for the period, compared to ₦3.18 billion recorded at the end of 2024.
Profit After Tax (PAT): Reached ₦1.54 billion as of September 30, 2025, down from ₦3.17 billion in 2024.
Insurance Service Result: Stood at ₦1.16 billion, driven by insurance service expenses of ₦4.37 billion against insurance revenues.
Investment Income: Contributed ₦1.12 billion to overall earnings for the period.
Total Assets: Stood at ₦48.96 billion as of September 30, 2025, representing a slight decrease from ₦49.50 billion as of December 31, 2024.
Total Equity: Improved to ₦5.53 billion, up from ₦3.99 billion recorded as of December 31, 2024, supported by retained earnings performance.
Balance Sheet and Solvency Position
The company’s Total Liabilities reduced to ₦43.43 billion as of September 30, 2025, down from ₦45.51 billion at year-end 2024. Insurance contract liabilities accounted for ₦37.41 billion of total obligations.
The financial report, signed by Managing Director/CEO Ayobami Ogunkeye and Chief Financial Officer Akinbode Raji, reflects the underwriter’s ongoing capital restructuring and position within the Nigerian insurance sector.
