Coronation Insurance Profit Plunges by 59% to N3.7 bn in Q3
Coronation Insurance Plc delivered a net income of N3.710 billion at the end of September of 2025, a sharp decline of about 60% from N9.192 billion posted in the equivalent period in 2024.
In its third quarter of 2025 earnings release, the insurance company reported that its insurance revenue surged by 49.82% year on year amidst growing rivalry in the industry.
Reflecting a tight operating environment, its insurance expenses accelerated much faster that top line growth, placing a significant pressure on margin. Insurance expenses surged by 53.1% year on year to N32.541 billion from N21.250 billion in the equivalent period in 2024.
Net expenses from reinsurance contracts held reduced by 27% year on year to N9.713 billion from N13.392 billion in the comparable period in 2024.
Coronation insurance experienced significant spike in investment income in the period, up by 52.60% year on year, from N2.413 billion to N3.683 billion.
Other operating income turned red, putting additional pressures on the insurance company’s earnings performance in the period. Total operating expenses surged to N6.750 billion at the end of the period from N2.441 billion in the comparable period.
Pretax profit plunged by 58.26% to N5.003 billion, reflecting the tight operating environment, rising costs and absence of supportive income.
The insurance company’s profit after tax plunged by 59.64% year on year to N5.710 billion as against N9.192 billion posted in the comparable period in 2024. Nestlé Nigeria Posts N72.5bn Profit After Tax in Nine Months
