Guinea Insurance Plc has released its financial statement for Q1 2025, reporting a pre-tax profit of N135.7 million.
This represents a 37.45% increase compared to N98.7 million reported in the same quarter of 2024, attributed to growth in insurance revenue.
The company’s full-year insurance revenue reached N706.6 million, up 45.74% from N484.8 million the previous year.
Additionally, insurance expenses were reduced to N94.1 million from N342.9 million, and the insurance service result improved to N437.7 million from N50.1 million in Q1 of the prior year.
On the investment front, investment income stood at N154.7 million, a 73.48% increase from N89.2 million, with interest from treasury bills accounting for most of this figure at N100.6 million.
However, net finance expenses increased to N38.6 million in Q1 2025, up from N6.4 million in Q1 2024.
In Q1 2025, Guinea Insurance Plc earned N1.09 billion in gross premiums, up from N1.04 billion in the same period of 2024. The company also paid out N154.5 million in gross claims during the quarter.
As of the close of trading on 23rd April 2025, shares of Guinea Insurance were priced at N0.70. In 2024, Guinea Insurance Plc recorded an impressive year-to-date gain of 179.31%