Veritas Kapital Assurance Plc has announced impressive financial results for the first half of 2025 (H1 2025), reinforcing its resilience and growth trajectory in Nigeria’s non-life insurance sector despite prevailing economic headwinds.
The company reported Gross Premium Written of ₦13.6 billion, representing an 8 percent increase year-on-year. Net Insurance and Investment Income jumped sharply by 244 percent to ₦5.2 billion, up from ₦1.52 billion recorded in full-year 2024. Profit After Tax stood at ₦3.2 billion—already surpassing the company’s total earnings for the whole of 2024.
Commenting on the results, the Managing Director/CEO, Dr. Adaobi Nwakuche, said the performance underscores the strength of the firm’s values-driven model anchored on disciplined strategy, people commitment, and consistent delivery of customer value.
During the review period, total assets rose by 11 percent to ₦37 billion from ₦33.1 billion in 2024, while Shareholders’ Funds grew to ₦15.1 billion from ₦11.92 billion, reflecting improved financial health, stronger investor confidence, and sound governance practices.
“This performance is the outcome of deliberate strategic choices, including disciplined underwriting, investment optimisation, expanded digital capabilities, and a strong emphasis on customer-focused service delivery,” Nwakuche noted.
