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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Linkage Assurance

LINKASSURE · Nigerian Exchange · Company statements

On this page
Company details
Legal name
LINKAGE ASSURANCE PLC
Listing
LINKASSURE on the Nigerian Exchange, active · ISIN NGLINKASSUR7 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Insurance revenue

    NGN 27.6 billion

    27,630,687 NGN thousands · p32

    +24.3% vs 2024

    Insurer (IFRS 17): printed 'Insurance revenue' (p32); no total-premiums line is used.

  • Insurance service result

    NGN 3.46 billion

    3,457,906 NGN thousands · p32

    +350.9% vs 2024

    Printed 'Insurance service result' (p32), the insurer's technical result.

  • Investment result

    NGN 8.01 billion

    8,010,444 NGN thousands · p32

    −15.5% vs 2024

    Printed 'Investment result' (p32).

  • Profit after tax

    NGN 3.13 billion

    3,126,111 NGN thousands · p32

    −43.7% vs 2024

    Printed 'Profit after tax' (p32).

  • Total assets

    NGN 76.9 billion

    76,899,095 NGN thousands · p33

    +17.1% vs 2024

    Printed 'Total assets' (p33).

  • Total equity

    NGN 46.7 billion

    46,686,252 NGN thousands · p33

    +9.0% vs 2024

    Printed 'Total equity' (p33).

Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Insurance revenue 27,630,687 22,229,099
Insurance service expenses (15,082,454) (14,971,588)
Net expense from reinsurance contracts held (9,090,327) (6,490,544)
Insurance service result 3,457,906 766,967
Interest revenue calculated using the effective interest rate method 4,755,424 3,567,427
Other Investment Income1 3,138,689 2,554,001
Net gain on financial assets measured at FVTPL 753,459 378,340
Net gain on financial assets measured at FVOCI2 26,387 –3
Other income4 (670,812) 2,847,692
Impairment write-back on financial assets 7,297 131,566
Investment result 8,010,444 9,479,026
Net finance (expenses)/income from insurance contracts issued (3,640,388) 269,094
Net finance income/(expense) from reinsurance contracts held5 1,466,666 (116,578)
Net insurance finance (expenses)/income (2,173,722) 152,516
Net insurance and investment result 9,294,628 10,398,509
Other operating expenses (5,262,205) (5,116,425)
Profit before income tax 4,032,423 5,282,084
Minimum tax6 –7 (147,994)
Income tax (expense)/credit (906,312) 417,541
Profit after tax 3,126,111 5,551,631
Net fair value gain on equity instruments measured at fair value through OCI8 7,259,076 4,971,762
Remeasurement of defined benefit obligation9 20,372 55,660
Items that will not be reclassified to profit or loss (unlabelled subtotal)10 7,279,448 5,027,422
Net fair value loss on debts instruments measured at fair value through OCI11 (67,021) (53,850)
Reclassification of cumulative fair value loss on disposal of FVOCI debt instruments12 (26,387) –13
Related tax14 (6,420,759) –13
Items that are/may be reclassified to profit or loss (unlabelled subtotal)15 (6,514,167) (53,850)
Other comprehensive income (unlabelled total) 765,281 4,973,572
Total comprehensive income attributable to owners of the Company 3,891,391 10,525,203
  1. Printed “-”, read as nil: subtotal_arithmetic: is.investment_return.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_zfr5kmg15z1v.oci_reclassified.
Notes and alternative reported figures (12)
  1. “Other Investment Income” is an issuer-specific line, not mapped to a shared definition: Note 32: other investment income (incl. dividends), within the investment result.
  2. “Net gain on financial assets measured at FVOCI” is an issuer-specific line, not mapped to a shared definition: Note 36(b): gain recycled on FVOCI debt instruments.
  3. “Other income” is an issuer-specific line, not mapped to a shared definition: Note 35: other income, printed within the investment result (2025 a loss).
  4. “Net finance income/(expense) from reinsurance contracts held” is an issuer-specific line, not mapped to a shared definition: Note 34.
  5. “Minimum tax” is an issuer-specific line, not mapped to a shared definition: Minimum tax printed apart from income tax.
  6. “Net fair value gain on equity instruments measured at fair value through OCI” is an issuer-specific line, not mapped to a shared definition: OCI item, not reclassified.
  7. “Remeasurement of defined benefit obligation” is an issuer-specific line, not mapped to a shared definition: OCI item, not reclassified.
  8. “Items that will not be reclassified to profit or loss (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal.
  9. “Net fair value loss on debts instruments measured at fair value through OCI” is an issuer-specific line, not mapped to a shared definition: OCI item, may be reclassified.
  10. “Reclassification of cumulative fair value loss on disposal of FVOCI debt instruments” is an issuer-specific line, not mapped to a shared definition: OCI reclassification.
  11. “Related tax” is an issuer-specific line, not mapped to a shared definition: Note 27.2: tax on OCI items, printed in the 'may be reclassified' block.
  12. “Items that are/may be reclassified to profit or loss (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal.

Balance sheet

Balance sheet, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Cash and cash equivalents 4,433,568 5,416,681
-Fair Value Through Profit or Loss 4,716,522 2,102,495
-Fair Value Through Other Comprehensive Income 39,077,796 29,490,446
-Amortised Cost 16,580,077 16,039,461
Loans and receivables1 558,245 337,144
Reinsurance contract assets 4,143,338 5,571,208
Investment property 340,000 340,000
Premium receivables2 251,333 948,117
Other receivables and prepayments3 2,803,876 1,263,759
Statutory deposits4 770,000 700,000
Property and equipment 3,176,474 3,426,201
Right of use assets 22,800 7,880
Intangible assets 25,066 33,908
Total assets 76,899,095 65,677,300
Insurance contract liabilities 18,277,740 17,386,988
Defined benefit obligations 91,413 93,950
Other technical liabilities5 1,467,869 1,218,863
Other payables6 733,736 1,507,248
Provisions 343,000 343,000
Current tax liabilities 295,846 245,563
Deferred tax liabilities 9,003,239 2,036,859
Total liabilities 30,212,843 22,832,471
Ordinary share capital 9,240,000 7,700,000
Share premium 497,464 547,433
Contigency reserve7 5,562,642 5,562,642
Retained earnings 6,144,404 4,558,293
Fair value reserves 23,440,308 22,695,399
Re-measurement reserves8 80,143 59,771
Assets revaluation reserve 1,721,291 1,721,291
Total equity 46,686,252 42,844,829
Total liabilities and equity 76,899,095 65,677,300
Less: Allowance for impairment9 (14,219) (70,945)
Notes and alternative reported figures (9)
  1. “Loans and receivables” is an issuer-specific line, not mapped to a shared definition: Note 9: loans and receivables (staff and agent loans).
  2. “Premium receivables” is an issuer-specific line, not mapped to a shared definition: Note 11.
  3. “Other receivables and prepayments” is an issuer-specific line, not mapped to a shared definition: Note 12.
  4. “Statutory deposits” is an issuer-specific line, not mapped to a shared definition: Note 18: statutory deposit with the regulator.
  5. “Other technical liabilities” is an issuer-specific line, not mapped to a shared definition: Note 19.
  6. “Other payables” is an issuer-specific line, not mapped to a shared definition: Note 20.
  7. “Contigency reserve” is an issuer-specific line, not mapped to a shared definition: Note 25: statutory contingency reserve (printed 'Contigency').
  8. “Re-measurement reserves” is an issuer-specific line, not mapped to a shared definition: Note 27.3.
  9. “Less: Allowance for impairment” is an issuer-specific line, not mapped to a shared definition: Note 7 (p88): 'Less: Allowance for impairment', the difference between cash per the statement of cash flows and the statement of financial position.

Cash flow

Cash flow, NGN thousands. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Premiums received from policy holders1 27,873,378 24,044,368
Cash received from policyholders in advance2 75,425 22,374
Cash deposit without details3 801,361 623,081
Cash premiums paid to reinsurers4 (11,140,532) (11,502,519)
Claims paid5 (5,946,533) (4,578,686)
Cash received from reinsurers on recoveries for claims paid6 2,237,272 1,463,862
Cash received from salvage recoveries7 174,073 87,480
Commission paid8 (9,333,080) (8,536,607)
Maintenance expenses paid9 (2,199,857) (2,115,580)
Commission received10 2,533,397 1,797,492
Cash payment to and on behalf of employees (excluding maintenance expenses)11 (1,268,115) (1,765,707)
Cash paid to suppliers12 (6,185,758) (1,058,858)
Corporate tax paid (162,752) (160,177)
Net cash flows (used in)/ from operating activities (2,541,719) (1,679,477)
Purchase of properties and equipment (225,724) (466,435)
Purchase of intangible assets –13 (9,568)
Proceeds from sale of property and equipment 16,087 81,163
Purchase of investment securities14 (12,862,096) (11,520,752)
Proceeds from sale of investment securities - FVTPL15 228,415 1,071,725
Proceeds from sale of investment securities - FVOCI16 3,014,903 1,014,903
Proceeds from sale of debt instrument at amortised cost17 4,833,951 5,380,458
Loans disbursed18 (307,147) (127,315)
Proceeds from repayment of loans19 156,353 198,888
Dividend received20 2,555,284 2,236,441
Rental income received21 8,800 3,500
Interest received 4,755,424 3,567,427
Net cash flows from/(used in) investing activities 2,174,250 1,430,434
Dividend paid –22 (700,000)
Regulatory costs of bonus share issuance23 (49,969) (12,861)
Net cash flows used in financing activities (49,969) (712,861)
Net decrease in cash and cash equivalents (417,438) (961,902)
Cash and cash equivalents at the beginning of the year 5,487,626 5,507,394
Impact of exchange difference on cash held (622,401) 942,134
Cash and cash equivalents at end of the year 4,447,787 5,487,626
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (21)
  1. “Premiums received from policy holders” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  2. “Cash received from policyholders in advance” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  3. “Cash deposit without details” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  4. “Cash premiums paid to reinsurers” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  5. “Claims paid” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  6. “Cash received from reinsurers on recoveries for claims paid” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  7. “Cash received from salvage recoveries” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  8. “Commission paid” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  9. “Maintenance expenses paid” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  10. “Commission received” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  11. “Cash payment to and on behalf of employees (excluding maintenance expenses)” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  12. “Cash paid to suppliers” is an issuer-specific line, not mapped to a shared definition: Direct-method operating line.
  13. “Purchase of investment securities” is an issuer-specific line, not mapped to a shared definition: Investing line.
  14. “Proceeds from sale of investment securities - FVTPL” is an issuer-specific line, not mapped to a shared definition: Investing line.
  15. “Proceeds from sale of investment securities - FVOCI” is an issuer-specific line, not mapped to a shared definition: Investing line.
  16. “Proceeds from sale of debt instrument at amortised cost” is an issuer-specific line, not mapped to a shared definition: Investing line.
  17. “Loans disbursed” is an issuer-specific line, not mapped to a shared definition: Investing line.
  18. “Proceeds from repayment of loans” is an issuer-specific line, not mapped to a shared definition: Investing line.
  19. “Dividend received” is an issuer-specific line, not mapped to a shared definition: Investing line.
  20. “Rental income received” is an issuer-specific line, not mapped to a shared definition: Investing line.
  21. “Regulatory costs of bonus share issuance” is an issuer-specific line, not mapped to a shared definition: Financing line.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

Dividend events, the issuer's wording, and amounts as printed
Year endedEventWording as printedAmountUnitSource
31 Dec 2025 Dividends paid (cash flow statement) Dividend paid 0printed “–”, read as nil NGN thousands Annual report, p36
31 Dec 2024 Dividends paid (cash flow statement) Dividend paid (700,000) NGN thousands Annual report, p36

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Linkage Assurance Plc Annual report 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: KPMG Professional Services (Chartered Accountants), unmodified opinion · signed

    Auditor's sign-off: Kabir Okunlola, for KPMG Professional Services

    Final status: Auditor's report 'Signed:' with a hand signature by Kabir Okunlola, FRC/2012/PRO/ICAN/004/00000000428, for KPMG Professional Services, Lagos, dated 31 March 2026, with the ICAN stamp (PDF p31, page image). Statements approved and authorised by the board on 11 March 2026 and signed by the chairman, the managing director and the chief financial officer, hand signatures visible (PDF p33, page image).

    Document date
    31 Mar 2026
    Auditor's report
    31 Mar 2026
    Board approval
    11 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · NGN thousands (printed “N'000”)
    • 2024 cash flow: operating (1,679,477), investing 1,430,434 and financing (712,861) sum to (961,904); the net decrease is printed (961,902), a difference of 2 (p36, checked on the render). Kept as printed.
    • Unclassified statement of financial position (no current/non-current subtotals). EPS is printed only as 'Basic/diluted (in kobo) 38 17k 30k' (p32; also p133), not read. 'Other income' (note 35) is printed within the investment result and is a loss in 2025 ((670,812)). The OCI 'Related tax' (6,420,759) is printed in the 'may be reclassified' block. Total comprehensive income 3,891,391 is 1 below profit after tax plus OCI (3,891,392, the figure the statement of changes in equity prints, p34): rounding, kept as printed.
    • Cash per the statement of cash flows (4,447,787; 2024: 5,487,626) is before the impairment allowance of (14,219) (2024: (70,945)) deducted to give cash and cash equivalents on the statement of financial position (note 7, p88). The auditor reports penalties of N69,114,000 paid for contravention of NAICOM guidelines (p31). The 2024 EPS was restated for the bonus issue (note 38, p133).
    Technical details
    File
    141 pages, with a text layer
    SHA-256
    eb93e4ed4b8856e5338ab49a2d1be9bbb71bbde27eda97a348d1f9a2229a4410
    Entity as printed
    Linkage Assurance Plc (the Company)
    Exchange copy
    retrieved 2026-10-08T18:00:38Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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