Regency Alliance Insurance Plc reported a sharp rise in claims expenses in the first half of 2025, with payouts surging 242.6 per cent year-on-year to ₦3.14bn, according to its unaudited financials filed with the Nigerian Exchange.
The spike in claims weighed heavily on the insurer’s bottom line. Profit before tax fell to ₦321.2m in June 2025, down from ₦911.3m a year earlier, while profit after tax dropped to ₦240.2m from ₦740.5m over the same period.
Despite the earnings pressure, the company recorded strong topline growth. Gross premium written rose 63.8 per cent to ₦6.15bn, compared with ₦3.76bn in H1 2024, reflecting stronger underwriting activity. Net investment income also climbed 13.2 per cent to ₦838m from ₦740.3m.
The balance sheet expanded during the period, with total assets rising 17.8 per cent to ₦22.47bn, up from ₦19.07bn in June 2024. Liabilities also increased 24.8 per cent to ₦8.25bn from ₦6.61bn.
The company said the jump in claims was the main factor behind the decline in profitability, even as revenue streams showed resilience.
