Status Assurance Plc has introduced its unaudited monetary outcomes for the second quarter ended June 30, 2025, exhibiting sturdy development in its operations and a dedication to customer support satisfaction by way of vital claims settlement.
The outcomes printed on the Nigerian Alternate Group (NGX) present that the corporate recorded a 32 % enhance in Gross Premium Written, rising from N11.575 billion in H1 2024 to N15.32 billion in H1 2025. This displays continued confidence from policyholders and the corporate’s strategic give attention to market enlargement and product innovation.
Insurance coverage income additionally elevated by 39 %, from N8.863 billion in the identical interval final 12 months to N12.30 billion in H1 2025, highlighting sturdy underwriting efficiency and sustained development momentum throughout enterprise strains.
In fulfilling its promise of safety to policyholders, Status Assurance paid out a complete of N6.08 billion in claims through the first half of 2025, up from N3.85 billion in H1 2024, a 58 % enhance year-on-year. This underlines the corporate’s monetary power and unwavering dedication to immediate claims settlement.
Nevertheless, revenue for the interval stood at N519.6 million, from N2.79 billion recorded in the identical interval final 12 months, largely impacted by overseas change (foreign exchange) volatility in Nigeria through the monetary interval, because the naira depreciated sharply in opposition to main currencies as a consequence of persistent demand pressures, amongst different challenges. This impacted the corporate’s funding revenue and working prices.
Regardless of this, the corporate’s whole property rose to N42.72 billion from N38.00 billion in H1 2024, reflecting a wholesome stability sheet and the continuing funding in strengthening its capital base and operational capabilities.
Amid the continuing trade recapitalisation mandated by the Nigerian Insurance coverage Business Reform Act (NIIRA), Status Assurance, backed by sturdy monetary help from its dad or mum firm, has expressed confidence that assembly the recapitalisation requirement won’t pose a problem.
The corporate continues to give attention to delivering customer-centric options, enhancing digital capabilities, and deepening its footprint within the Nigerian insurance coverage trade.
