Thursday, August 7, 2025
27.2 C
Lagos

Sovereign Trust Insurance Reports 45% Revenue Rise in Q2 2025

Sovereign Trust Insurance Plc has shown a consistent rise in its revenue generation going by the unaudited second quarter result released on the floor of Nigerian Exchange Limited (NGX) just recently. The underwriting firm generated a total sum of N34b in the second quarter of 2025, compared to the sum of N23.5b that was recorded in the same period in 2024, representing a growth rate of 45%.

The second quarter performance indicates that the underwriting firm is very much on course with meeting the aspirations of its various Shareholders in the days ahead.

The Investments Return for the 2nd quarter grew from N446.4m in the same corresponding period in 2024 to N1b in the same period in 2025, representing a 130% growth rate.

The Profit Before Tax also increased by 36% from N1.1b in the second quarter of 2024 to N1.5b in the same corresponding period of 2025. Profit After Tax also increased by 20% from N941.6m to N1.3b in the second quarter of 2025.

The Company’s Total Assets grew by 14% moving to N27.7billion in the second quarter of the year as against N24.4b that it was in the same corresponding period of 2024. The Total Liabilities witnessed a 20% surge from N10.1b in June of 2024 to N12b in June 2025 while Total Equity of the company grew by 10% from N14.3b in the second quarter of 2024 to N15.7b in the same corresponding period of 2025.

Conclusively, the Basic Earnings Per Share, (kobo) increased by 42% from 7 kobo in the second quarter of 2024 to 10 kobo in the same period of 2025.

Undoubtedly, the underwriting firm is poised to continue in its growth trajectory and is doing all to ensure that the shareholders and stakeholders of the company are delighted at every point in time.

spot_img
spot_img

Hot this week

Former CFI of NAICOM, Sunday Thomas, to Chair NAIPE 2025 Conference

The Nigerian Association of Insurance and Pension Editors (NAIPE)...

Why Is Nigeria Recording More Malnutrition Deaths Than War-Torn Palestine?

By Elvis Eromosele At the end of July 2025, the...

Heirs Insurance Floats ₦5m Grant to Empower Retirees, Pre-Retirees

Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has launched...

Stanbic IBTC Capital: “Best Investment Bank in Nigeria 2025” at Global Banking and Finance Awards

Stanbic IBTC Capital, a subsidiary of Stanbic IBTC Holdings,...

Topics

NCC Restores Regulatory Services to Globacom

The Nigerian Communication Commission (NCC) has restored regulatory services...

Islamic Banking Take Centre-stage at Sudan Forum

Islamic banking leaders and dignitaries from across Africa and...

Non-Performing Loans: CBN Should Probe Banks for Shady Loans –LCCI

The Lagos Chamber of Commerce and Industry (LCCI) has called on the Central Bank of Nigeria (CBN) to consider probing the loan portfolios of banks to determine if the rising cases of non-performing loans or loan defaults are due to shady practices in loan approvals by the banks.

NCC’s Oshadami Receives the Prestigious CIO Awards

Abraham Oshadami Deputy Director, Head, Spectrum Database Management, NCC The status...

Jonathan, Johnson, Galaxy Backbone Honoured at ICT Centenary Awards

President Goodluck Jonathan, Dr. (Mrs.) Omobola Johnson, Galaxy Backbone...

Unity Bank, ANWBN Empower Women Entrepreneurs with AI, Digital Marketing Skills 

From left: Mrs. Patricia Ahunanya, Chief Compliance Officer, Unity...

Stanbic IBTC: Driving Job Creation via Graduate Trainee, Entrepreneurial Programs

Stanbic IBTC continued to champion the job creation drive...

UBA Consolidates as Gross Earnings Rise by 110%, Profit for Q1 Hits N156bn

United Bank for Africa Plc (UBA), Africa’s Global Bank,...
spot_img

Related Articles

Popular Categories

spot_imgspot_img