Joy Agwunobi
Sovereign Trust Insurance Plc has posted a robust financial performance for the second quarter of 2025, reflecting a steady upward trajectory in revenue generation and profitability.
According to the company’s unaudited Q2 2025 financial statement released on the floor of the Nigerian Exchange Limited (NGX), the underwriting firm recorded significant growth across critical performance indicators, underscoring its resilience and strategic focus on value creation.
In the second quarter of 2025, the company reported a gross premium income of ₦34 billion, representing a 45 percent increase from the ₦23.5 billion posted during the same period in 2024. This impressive growth underscores the firm’s expanding market footprint and enhanced underwriting capacity.
The company’s investment income also witnessed a notable surge, rising from ₦446.4 million in Q2 2024 to ₦1 billion in Q2 2025 — a 130 percent growth. This substantial improvement reflects the company’s strategic asset management and improved returns on its investment portfolio.
Profitability metrics followed the same upward trend. Profit Before Tax (PBT) grew by 36 percent, moving from ₦1.1 billion in Q2 2024 to ₦1.5 billion in the corresponding period of 2025. Similarly, Profit After Tax (PAT) rose by 20 percent , from ₦941.6 million to ₦1.3 billion, further affirming the company’s efficient cost management and revenue optimization strategy.
The insurer’s balance sheet also reflected healthy growth. Total assets stood at ₦27.7 billion as of the end of June 2025, marking a 14 percent increase from the ₦24.4 billion recorded in the same period the previous year. Total liabilities rose by 20 percent , from ₦10.1 billion in June 2024 to ₦12 billion in June 2025, while the company’s total equity improved by 10 percent, reaching ₦15.7 billion, up from ₦14.3 billion in Q2 2024.
Earnings per share also recorded a notable increase. The company’s Basic Earnings Per Share rose by 42 percent, climbing from 7 kobo in Q2 2024 to 10 kobo in the same period of 2025, highlighting improved shareholder value and earnings efficiency.
