Mutual Benefit Assurance Reports Strong Financial Growth

Mutual Benefit Assurance Plc announced its audited financial results for the year ending December 31, 2025, showcasing strong performance and significant growth across key metrics. The company reported an insurance revenue increase to ₦80.05 billion from ₦66.92 billion in 2024, driven by growth in various business segments.

Profit for the year rose to ₦16.42 billion compared to ₦11.32 billion in 2024, with profit before tax increasing to ₦17.41 billion from ₦11.80 billion the previous year. Total assets expanded to ₦176.25 billion from ₦147.13 billion, reinforcing the company's balance sheet strength.

Total equity grew to ₦69.73 billion from ₦54.79 billion in 2024. Earnings per share rose to 81 kobo from 54 kobo the previous year.

The company’s net investment income reached ₦19.87 billion, supported by higher interest income. Olufemi Asenuga, Managing Director, emphasized the company's focus on digital transformation and operational efficiency to enhance customer experience and pursue growth opportunities in Nigeria and select African markets.