Linkage Assurance Plc, a leading insurance company in Nigeria, has reported a 31% growth in profit after tax (PAT) to N4.09 billion in the nine months ended September 2026. This significant increase is attributed to the company's strategic focus on investment and other income, which rose 27% to N7.71 billion from N6.05 billion a year earlier. The company's financial results filed with the Nigerian Exchange (NGX) showed that PAT increased from N3.12 billion recorded in 2025 to N4.09 billion in 2026.
The growth in profitability was largely supported by the company's investment and other income, which helped manage rising claims and other insurance-related costs during the review period. Insurance revenue increased by 6% to N20.55 billion from N19.30 billion, reflecting growth in the company's insurance business. The company continues to meet its obligations to customers, as reflected in a gross claims payout of N5.59 billion during the nine-month period, compared with N4.02 billion in the corresponding period of 2025.
On the balance sheet, the insurer recorded stronger growth, with total assets increasing by 31% to N100.83 billion as of September 30, 2026, compared with N76.90 billion at the end of December 2025. This significant growth in total assets reflects the company's improved financial position despite a challenging operating environment. The company's profit before tax also rose by 29% to N4.32 billion, compared with N3.34 billion in the same period last year.
According to Daniel Braie, Managing Director/CEO of Linkage Assurance Plc, the company's strategy for 2026 is centered on consolidation, with an emphasis on business growth, operational excellence, financial excellence, and customer and people development. The company aims to increase its market share in profitable business segments while improving customer experience in an increasingly competitive insurance market. Braie also identified technology and digital transformation as important components of its growth strategy.
Linkage Assurance's growth strategy includes offering customers different motor insurance options based on their risk exposure, willingness, and ability to pay. The company will continue its brand awareness and customer value initiatives to drive growth and improve customer experience. The company's nine-month performance comes as Nigeria's insurance industry enters a new phase following the recapitalization exercise, which has increased expectations for stronger underwriting capacity, improved claims settlement, and more sustainable business growth.
The recapitalization exercise has raised the capital requirements for insurance companies in Nigeria, and Linkage Assurance's strong financial performance positions it well to take advantage of new opportunities in the market. The company's focus on consolidation and growth is expected to drive its performance in the coming months. With its strategic focus on business growth, operational excellence, and customer development, Linkage Assurance is well-positioned to achieve its goals in the increasingly competitive insurance market.
As the insurance industry in Nigeria continues to evolve, Linkage Assurance's commitment to improving customer experience and increasing market share in profitable business segments is expected to drive its growth and profitability. The company's strong financial performance and strategic focus on consolidation and growth position it well for future success.
Key points
- Linkage Assurance Plc reports 31% growth in profit after tax to N4.09 billion in nine months ended September 2026.
- The company's total assets increased by 31% to N100.83 billion as of September 30, 2026.
- Linkage Assurance's strategic focus for 2026 is centered on consolidation, with an emphasis on business growth, operational excellence, financial excellence, and customer and people development.
