Veritas Kapital Assurance Plc has recorded an eight per cent increase in Gross Written Premium, rising to N13.6 billion in the first half of 2025. Managing Director Dr Adaobi Nwakuche disclosed this in a statement on Wednesday in Lagos, noting that the performance reflected strong market presence and effective distribution channels. She said Net Insurance and Investment Income surged by 244 per cent to N5.2 billion, up from N1.52 billion recorded in full year 2024.
Profit After Tax hit N3.2 billion, surpassing the company’s total earnings for the entire 2024 financial year. “These results affirm the strength of our values-driven model, built on our people’s dedication, a clear strategy, and unwavering focus on customer value,” Nwakuche stated.
Total Assets rose by 11 per cent to N37 billion from N33.1 billion in 2024, reflecting improved financial health and operational efficiency. Shareholders’ funds climbed to N15.1 billion from N11.92 billion, underscoring investor confidence and sound governance.
Nwakuche attributed the growth to disciplined underwriting, investment optimisation, expanded digital capabilities, and strong customer-focused service delivery. She emphasised that the H1 2025 performance was not just about growth, but about “protection delivered, promises honoured, and futures secured.”
“As Nigeria adapts to new economic realities, Veritas Kapital is charting a course defined by agility, innovation, and intentionality,” she said, adding that the company is investing in digital access, claims responsiveness, and talent development, while reinforcing its core values of integrity, transparency, and service.
