Mutual Benefits posts strong gains in profit, revenue, and assets

Mutual Benefits Assurance Plc has released its audited financial results for the year ending December 31, 2025, showing notable growth across key indicators including profitability, insurance revenue, and balance sheet strength.

The results, filed with the Nigerian Exchange, reflect the company’s resilience and strategic focus within the country’s insurance sector.

Insurance revenue rose to N80.05 billion, up from N66.92 billion in 2024, driven by expansion across major business segments. Profit for the year increased to N16.42 billion, compared with N11.32 billion a year earlier, while profit before tax stood at N17.41 billion, up from N11.80 billion.

Total assets grew to N176.25 billion from N147.13 billion in 2024, and total equity climbed to N69.73 billion, supported by retained earnings and improved profitability. Earnings per share rose to 81 kobo, up from 54 kobo.

Net investment income also improved to N19.87 billion, aided by higher interest income and fair value gains. The company’s insurance service result jumped significantly to N8.77 billion from N1.07 billion in 2024, reflecting stronger underwriting discipline and better claims management.

Interest income contributed N10.88 billion, and total assets were bolstered by an increase in financial assets at amortised cost, which reached N86.99 billion. Shareholders’ funds attributable to the parent company strengthened to N65.00 billion.

Managing Director Olufemi Asenuga attributed the performance to the success of the company’s long-term strategy, underwriting discipline, and transformation agenda. He reaffirmed the firm’s focus on digital transformation, operational efficiency, and customer experience.

Looking ahead, Mutual Benefits said it would continue expanding its market presence, deepening digital distribution channels, and pursuing growth opportunities in retail and corporate insurance across Nigeria and select African markets.