Universal Insurance Grows Premium to N15.3bn, Bolsters Balance Sheet in 2024

Universal Insurance Plc, led by Chairman Jasper Nduagwuik, achieved a remarkable financial performance in 2024 with a gross written premium of N15.3 billion, up from N8.02 billion in 2023. The company's profit before tax surged by 291.26% to N2.01 billion, and its total assets expanded to N20.3 billion.

Shareholder funds also increased to N13.2 billion. These results reflect the company's focus on prudent underwriting and innovation to meet customer needs and ensure long-term profitability.