Universal Insurance last week released its audited FY 2025 earnings. Here is a walkthrough them.

Insurance revenue dipped

Insurance revenue went up by over 48% to N20,4 billion, but insurance service result fell by 64.5% to N991 million due to higher insurance service expenses and reinsurance expenses.

Net investment income went up by 394% to N4.2 billion. Strip away that and the figures are much lower.

Stripped of those gains, Universal Insurance would have recorded a loss after tax of N1.5 billion.