Mutual Benefits Assurance Plc has announced its audited financial results for the year ended December 31, 2025, reporting a strong performance marked by significant growth in profitability, improved insurance revenue and continued expansion of its balance sheet.
The results underscore the company’s resilience, disciplined execution and strategic positioning within Nigeria’s insurance industry.
The audited results, drawn from Mutual Benefits’ consolidated and separate financial statements, reflect sustained momentum across underwriting, investment income and operational efficiency.
Highlights include a rise in insurance revenue to ₦80.05 billion, up from ₦66.92 billion in 2024, driven by growth across key business segments. Profit for the year increased to ₦16.42 billion, compared to ₦11.32 billion in 2024, reflecting strong bottom-line expansion, while profit before tax stood at ₦17.41 billion, up from ₦11.80 billion in the prior year.
Furthermore, total assets expanded to ₦176.25 billion, compared to ₦147.13 billion in 2024, reinforcing balance sheet strength. In addition, total equity grew to ₦69.73 billion, from ₦54.79 billion in 2024, supported by retained earnings and improved profitability, while earnings per share rose to 81 kobo, compared to 54 kobo in the previous year.
The leading insurer also recorded improved net investment income of ₦19.87 billion, supported by higher interest income, fair value gains, and disciplined portfolio management.
Equally important, Mutual Benefits reported strong operational performance, with its insurance service result improving significantly to ₦8.77 billion, compared to 1.07 billion in 2024. The result reflected stronger underwriting discipline, improved claims management and enhanced reinsurance structuring.
Growth in net insurance and investment performance was supported by diversified income streams, including ₦10.88 billion in interest income and improved returns from financial assets measured at amortised cost and fair value.
Meanwhile, the company’s total assets growth to ₦176.25 billion was driven by expansion in financial assets at amortised cost, which rose to ₦86.99 billion, alongside broader investment portfolio diversification. Shareholders’ funds attributable to owners of the parent company strengthened to ₦65.00 billion, reflecting continued value creation and prudent capital management.
Speaking on the results, the Managing Director of Mutual Benefits Assurance Plc, Olufemi Asenuga, said the performance reflects the success of the company’s long-term strategic priorities.
“The 2025 results demonstrate the strength of our underwriting discipline, the resilience of our investment strategy and the effectiveness of our ongoing transformation agenda. We remain committed to delivering sustainable value to our policyholders, shareholders and all stakeholders while strengthening our leadership position in Nigeria’s insurance industry,” he stated.
Asenuga further reaffirmed the company’s focus on digital transformation, operational efficiency and enhanced customer experience as key enablers of future growth.
Looking ahead, Mutual Benefits Assurance Plc remains committed to expanding its market presence, deepening digital distribution channels and strengthening claims efficiency.
The company will also continue to pursue growth opportunities across retail and corporate insurance segments in Nigeria and selected African markets.
