Linkage Assurance Plc reports 7.8% profit growth in Q1 as oil & gas lead insurance revenue 

The rise in earnings was supported by higher insurance revenue, which reached N6.05 billion—an 18.2% increase from N5.1 billion a year earlier.

Cost efficiency also played a key role in the company’s improved results. Insurance service expenses were trimmed by 5.36%, which helped lift the ‘insurance service result before reinsurance’ to N2.1 billion—up from N1.04 billion in the same period last year.

However, total investment income saw a decline, falling to N1.6 billion from N2.8 billion year-on-year.

During the quarter, Linkage Assurance received N8.3 billion in premiums from policyholders—a significant drop from the N24 billion reported the previous year.

Meanwhile, claims paid also declined sharply to N1.2 billion, down from N4.5 billion.

On the balance sheet, total assets rose to N69.5 billion, reflecting a 5.97% increase. Retained earnings also grew by 10.08%, standing at N5.01 billion.

As of the trading day ended 20 May 2025, shares of the company were priced at N1.48, with a year-to-date performance of 10.45%.