Linkage Assurance grows assets to N100.8bn as profit surges

Linkage Assurance’s profit after tax rose by 31 per cent to N4.09bn in the nine months ended September 2026, supported by stronger investment and other income despite rising insurance-related costs.

The company’s unaudited financial results filed with the Nigerian Exchange Limited showed that profit after tax increased from N3.12bn in the corresponding period of 2025 to N4.09bn in the review period.

Profit before tax also grew by 29 per cent to N4.32bn from N3.34bn recorded a year earlier.

The growth was largely driven by investment and other income, which increased by 27 per cent to N7.71bn from N6.05bn in the same period of 2025.

The stronger income performance helped cushion the impact of rising claims and other insurance-related expenses, supporting the insurer’s overall profitability during the period.

Insurance revenue increased by six percent to N20.55bn from N19.30bn, reflecting growth in the company’s insurance business. The insurer continues to meet its obligation to customers as reflected in gross claims payout of N5.59bn during the nine-month period, compared with N4.02bn in the corresponding period of 2025.

On the balance sheet, the insurer recorded stronger growth, with total assets increasing by 31 percent to N100.83bn as of 30 September, 2026, compared with N76.90bn at the end of December 2025.

In its outlook, Linkage Assurance said its strategic focus for 2026 is centred on consolidation, with emphasis on business growth, operational excellence, financial excellence, and customer and people development.

Managing Director/CEO, Linkage Assurance Plc, Daniel Braie,  said the company’s strategy would guide its efforts to increase market share in profitable business segments while improving customer experience in an increasingly competitive insurance market.

He also identified technology and digital transformation as important components of the company’s growth strategy, particularly in improving products and services for direct and personal insurance customers.

Braie said Linkage would offer customers different motor insurance options based on their risk exposure, willingness and ability to pay, while continuing its brand awareness and customer value initiatives.

Linkage Assurance’s nine-month performance comes as Nigeria’s insurance industry enters a new phase following the recapitalisation exercise, which has increased expectations for stronger underwriting capacity, improved claims settlement and more sustainable business growth.