Veritas Kapital Assurance Plc has announced a strong performance for the first half of 2025 (H1 2025), recording growth across key indicators and reinforcing its reputation as one of Nigeria’s leading non-life insurers.
Despite operating within a difficult economic climate, the company reported Gross Premium Written of N13.6 billion, an 8 percent increase that underlines both its market presence and effective distribution channels.
Net Insurance and Investment Income jumped by 244 percent to N5.2 billion, up from N1.52 billion recorded in the full-year 2024. Profit After Tax stood at N3.2 billion, already surpassing the company’s entire earnings for 2024.
“These results affirm the strength of our values-driven business model, built on the dedication of our people, the clarity of our strategy, and our unwavering focus on customer value,” said Adaobi Nwakuche, Managing Director and Chief Executive Officer of Veritas Kapital Assurance Plc.
The insurer’s Total Assets rose to N37 billion, representing an 11 percent increase from N33.1 billion in 2024, signalling stronger financial health and improved operational efficiency. Shareholders’ Funds also advanced to N15.1 billion in H1 2025 from N11.92 billion in the previous year, reflecting investor confidence and sound corporate governance.
According to the company, the performance reflects deliberate choices centred on disciplined underwriting, optimised investment strategies, enhanced digital capabilities, and a consistent focus on customer-centred service delivery.
Veritas Kapital said its half-year results represent more than financial progress, describing them as evidence of its evolving role as a reliable partner to individuals, businesses, and communities.
“Each figure tells a story, of protection delivered, promises honoured, and futures secured,” Nwakuche added. “We are building trust, not just growing profits.”
The company noted that as Nigeria navigates shifting economic dynamics, it is committed to agility, innovation, and deliberate investment in digital access, claims responsiveness, and talent development, while continuing to uphold its core values of integrity, transparency, and service.
Looking ahead to the second half of the year, Veritas Kapital said it will work to maintain momentum by strengthening customer engagement, deepening relationships with brokers, and rolling out innovative products tailored to evolving market demands.
“Our goal is clear: to remain a trusted ally for our customers and a growth engine for our stakeholders, not just for today, but for the future we are helping to shape,” Nwakuche concluded.
Veritas Kapital Assurance Plc remains one of Nigeria’s foremost non-life insurers, offering risk solutions to individuals, small and medium-sized businesses, and corporate organisations. With a legacy built on trust and a future anchored in resilience, the company says it is redefining insurance in Nigeria through technology, transparency, and people-centred service.
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