Coronation Insurance Plc has reported significant growth in insurance revenue and balance-sheet strength for the financial year ended December 31, 2025. The company's Group insurance revenue stood at N74.8 billion, representing a 51% increase from N49.5 billion in 2024. This growth was highlighted at the company's 68th Annual General Meeting held in Lagos, where shareholders reviewed the company's performance and strategic direction.
The company's total assets rose by 27.7% to N98.1 billion, while shareholders' funds increased by 21.9% to N48.5 billion. Insurance service results also saw a significant increase, rising by 93% from N5.5 billion to N10.6 billion during the year. However, profit before tax declined to N9.6 billion from N13.8 billion in 2024, mainly due to the absence of a significant net foreign exchange gain that contributed to the previous year's result.
Mutiu Sunmonu, CON, Chairman of Coronation Insurance Plc, emphasized that the company's 2025 performance demonstrated its ability to build resilience in a changing operating environment. He stated that the company's focus remains on strengthening the business, protecting policyholders, and creating sustainable value for shareholders. Sunmonu's comments underscored the company's commitment to navigating market changes while maintaining growth.
Olamide Olajolo, Managing Director/CEO of Coronation Insurance Plc, attributed the company's revenue growth to the strength of its diversified business model, distribution capabilities, and customer-focused strategy. He expressed optimism about the company's future, stating that it has entered 2026 with a stronger operating platform, a broader distribution base, and greater capacity to respond to evolving customer needs.
The company's bancassurance partnership with Access Bank was a significant contributor to its growth, generating N19.4 billion in Gross Written Premium for the Group in 2025, compared with N13.6 billion in 2024. This partnership highlights the company's ability to leverage collaborations to drive business growth and expand its market presence.
The Annual General Meeting considered the company's audited financial statements and other resolutions relating to its governance, Board composition, Audit Committee, and future oversight arrangements. Shareholders and stakeholders had the opportunity to review the company's performance and provide guidance on its strategic direction.
Looking ahead, Coronation Insurance Plc aims to translate its stronger operating platform into deeper market participation, stronger customer relationships, and sustainable growth. The company's leadership is focused on building on the momentum achieved in 2025, while navigating the challenges and opportunities in the insurance industry.
Key points
- Coronation Insurance Plc's revenue grew 51% to N74.8 billion in 2025.
- The company's total assets rose 27.7% to N98.1 billion.
- Profit before tax declined to N9.6 billion from N13.8 billion in 2024.
