Mutual Benefits Assurance Plc has released its financial results for the second quarter ended 30 June 2025, reporting a pretax profit of N7.8 billion, compared to a loss of N1.1 billion in the same period last year.

This brought its half-year pretax profit to N12.2 billion, reflecting a 287.78% increase from N3.1 billion recorded in the first half of 2024.

The improvement in earnings was largely driven by a rise in insurance revenue, which stood at N21.8 billion in Q2, up 37.46% year-on-year.

This pushed total insurance revenue for the half year to N41.1 billion, compared to N28.4 billion in H1 2024.

Favorably, the company recorded a decline in insurance service expenses, which dropped from N14.7 billion to N9.7 billion in Q2.

In addition, net investment income rose to N4.1 billion in Q2, representing a 911.85% increase from the same period last year.

Overall, pretax profit for the quarter was N7.8 billion, while post-tax profit came in at N7.4 billion.

On the balance sheet, the company reported a total asset base of N164.2 billion, up 11.61% year-on-year, while retained earnings surged 79.11% to N21.9 billion.

During the first half of the year, the company received N47.2 billion in cash premiums from insurance contracts, up from N34.2 billion in H1 2024.

As of the close of trading on August 5, 2025, the company’s shares were priced at N2.20, reflecting a year-to-date gain of 260.66%.