By Taiye Olayemi
Veritas Kapital Assurance Plc has reported a Gross Written Premium (GWP) of ₦18.7 billion for the third quarter ended Sept. 30.
This represents a slight increase from ₦18.54 billion recorded in the corresponding period of 2024.
In a statement on Tuesday, the company said its insurance revenue rose to ₦16.31 billion in 2025, from ₦16.1 billion in 2024.
It said ₦10.6 billion was paid in claims during the review period, demonstrating commitment to prompt and efficient claims settlement.
The News Agency of Nigeria (NAN) reports that this strong claims record underscores the company’s reliability and its brand promise of standing by policyholders when needed most.
The company also reported a Profit After Tax (PAT) of ₦4.1 billion, representing a 44 per cent increase over the previous year.
Its Insurance Service Result rose significantly to ₦6.6 billion in 2025, from a negative ₦1.3 billion in 2024.
Shareholders’ Funds also grew to ₦19.5 billion, reflecting sustained investor confidence and financial resilience.
The Managing Director, Dr Adaobi Nwakuche, described the performance as “a reflection of purpose translated into progress.”
She said the results validate that when an organisation aligns its strategy with its values, growth becomes inevitable.
“Every milestone we achieve is built on trust; the trust of our customers, brokers, partners, and our people,” she said.
Nwakuche added that the company’s renewed momentum was not merely financial but transformational, driven by innovation and disciplined underwriting.
“Our story this quarter is about resilience and a team delivering with heart, even in a challenging economy,” she stated.
She said Veritas Kapital is building an institution that is not only profitable but purposeful and dependable for Nigerians.
The managing director said the strong Q3 performance reflects results from its ongoing transformation programme.
“This includes optimised investments, digitised service touchpoints, enhanced claims responsiveness, and strengthened broker engagement,” she explained.
As the company enters the final quarter of 2025, its focus remains on consolidating gains and deepening customer relationships.
NAN reports that it also plans to drive product innovation to meet the evolving needs of individuals and businesses across Nigeria.
“Our growth journey is intentional. We know who we are, what we stand for, and the value we bring.
“The numbers confirm it, but our people and our purpose define it,” Nwakuche said.
Edited by Kamal Tayo Oropo
