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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

Universal Insurance

UNIVINSURE · Nigerian Exchange · Consolidated statements

On this page
Company details
Legal name
Universal Insurance Plc
Listing
UNIVINSURE on the Nigerian Exchange, active · ISIN NGUNIVINSUR9 (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 20.4 billion

    20,432,961 NGN thousands · p70

    +48.5% vs 2024

    Insurer (IFRS 17): printed 'Insurance Revenue' 20,432,961 (consolidated statement of profit or loss, p70); no revenue line in the commercial sense.

  • Insurance service result

    NGN 991 million

    991,054 NGN thousands · p70

    −64.6% vs 2024

    Printed 'Insurance service result' 991,054 (p70), the insurer's technical result; no operating-profit line is printed.

  • Net Investment Income

    NGN 4.22 billion

    4,222,784 NGN thousands · p70

    +394.4% vs 2024

    Printed 'Net Investment Income' 4,222,784 (p70).

  • Profit for the Year

    NGN 1.99 billion

    1,993,556 NGN thousands · p70

    +2.7% vs 2024

    Printed 'Profit for the Year' 1,993,556 (p70).

  • Total assets

    NGN 29.0 billion

    29,009,330 NGN thousands · p71

    +30.7% vs 2024

    Printed 'Total Assets' 29,009,330 (p71).

  • Shareholders funds

    NGN 18.5 billion

    18,496,209 NGN thousands · p71

    +23.6% vs 2024

    Printed 'Shareholders funds' 18,496,209 (p71).

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 20,432,961 13,760,500
Insurance service expenses (17,693,651) (10,522,591)
Insurance service result from insurance contracts issued1 2,739,309 3,237,909
Net income (expenses) from reinsurance contracts held (1,748,256) (440,862)
Insurance service result 991,054 2,797,047
Other investment income2 682,198 308,879
Net fair value gains/(losses) on financial assets at fair value through profit or loss 3,216,794 (649,543)
Net fair value gain/(loss) on investment properties3 323,500 1,198,771
Net credit impairment losses 292 (3,921)
Net Investment Income 4,222,784 854,187
Finance income (expenses) from insurance contracts issued (601,330) 87,679
Finance income (expenses) from reinsurance contracts held4 231,232 61,079
Net insurance finance expenses (370,097) 148,758
Net Insurance and Investment Result 4,843,740 3,799,991
Other operating and administrative expenses (Non attributable) (2,659,271) (1,811,171)
Profit before Tax 2,184,469 1,988,821
Income Tax Expense (190,913) (47,756)
Profit for the Year 1,993,556 1,941,065
Revaluation surplus on PPE5 1,534,107 802,830
Other comprehensive income for the year net of tax 1,534,107 802,830
Total comprehensive income for the year 3,527,663 2,743,895
Notes and alternative reported figures (5)
  1. “Insurance service result from insurance contracts issued” is an issuer-specific line, not mapped to a shared definition: Printed subtotal before reinsurance.
  2. “Other investment income” is an issuer-specific line, not mapped to a shared definition: Note 25a.
  3. “Net fair value gain/(loss) on investment properties” is an issuer-specific line, not mapped to a shared definition: Note 25.c.
  4. “Finance income (expenses) from reinsurance contracts held” is an issuer-specific line, not mapped to a shared definition: Note 34.
  5. “Revaluation surplus on PPE” is an issuer-specific line, not mapped to a shared definition: OCI; printed under 'Items reclassified to profit and loss'.

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 3,229,045 3,102,043
Financial Assets 5,563,417 2,346,623
Premium Receivable1 37,447 192,476
Reinsurance Contract Assets 2,498,390 1,665,403
Other Receivables2 1,434,417 594,767
Investment in Subsidiaries3 –4 –4
Investment Properties 8,168,100 7,812,334
Intangible Asset 178,826 100,467
Property, Plant and Equipment 7,161,003 5,640,734
Deferred tax assets 403,685 403,685
Statutory Deposits5 335,000 335,000
Total Assets 29,009,330 22,193,531
Insurance Contract Liabilities 9,701,385 5,880,378
Borrowings –6 –6
Trade payables7 –6 Not reported in this filing8
Other payables9 323,050 910,183
Reinsurance Contract Liabilities –6 –6
Income Tax liabilities 102,019 47,756
Deferred tax liabilities 386,668 386,668
Total Liabilities 10,513,121 7,224,985
Issued and paid Share capital 8,000,000 8,000,000
Share Premium 825,018 825,018
Contingency Reserves10 2,270,150 1,623,340
Fair value reserve 952,350 952,350
Non Current assets revaluation reserve 5,241,280 3,707,173
Retained Earning 1,207,411 (139,335)
Shareholders funds 18,496,209 14,968,546
Other equtiy instruments11 –12 –12
TOTAL EQUITY & LIABILITIES 29,009,330 22,193,530
Employee benefit liability13 Not reported in this filing14 –6
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.total_liabilities.
  3. Printed “-”, read as nil: subtotal_arithmetic: bs.total_equity_and_liabilities.
Notes and alternative reported figures (11)
  1. “Premium Receivable” is an issuer-specific line, not mapped to a shared definition: Note 8.
  2. “Other Receivables” is an issuer-specific line, not mapped to a shared definition: Note 10.
  3. “Investment in Subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 11; nil in the Group columns.
  4. “Statutory Deposits” is an issuer-specific line, not mapped to a shared definition: Note 15: deposit with the regulator.
  5. “Trade payables”: mapping to a shared definition is uncertain. Trade payables only; other payables printed separately.
  6. Not reported in this filing: The line 'Trade payables' (note 18) in the consolidated statement of financial position (p71) carries a 2025 entry only (a printed dash); the Group 31-Dec-24 column is blank (p71). Blank recorded as not reported, not as nil. Checked on the page image.
  7. “Other payables” is an issuer-specific line, not mapped to a shared definition: Note 19.
  8. “Contingency Reserves” is an issuer-specific line, not mapped to a shared definition: Note 23.3: statutory insurance contingency reserve.
  9. “Other equtiy instruments” is an issuer-specific line, not mapped to a shared definition: Printed after shareholders' funds; dashes.
  10. “Employee benefit liability” is an issuer-specific line, not mapped to a shared definition: Note 20.
  11. Not reported in this filing: The line 'Employee benefit liability' (note 20) in the consolidated statement of financial position (p71) carries a 2024 entry only (a printed dash); the Group 31-Dec-25 column is blank (p71). Blank recorded as not reported, not as nil. Checked on the page image.

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
Insurance premium received from policy holders,Brokers & Agents,Cedants1 15,131,733 15,131,733
Commission received2 712,368 457,754
Reinsurance receipts in respect of claims3 1,064,845 1,570,796
Reinsurance premium paid4 (4,214,922) (3,103,112)
Prepaid Minimum and Deposit5 (997,713) (25,625)
Other operating cash payments6 (2,333,945) (1,279,850)
Claims paid7 (3,618,513) (2,975,047)
Other directly attributable expenses8 (2,572,841) (1,623,264)
Payments to intermediaries to acquire insurance contracts9 (3,889,483) (2,960,390)
Maintenance expenses10 (5,520,504) (2,654,398)
Cash generated from operations (6,238,975) 2,538,597
Interest Paid11 –12 –12
Company Income Tax paid (186,997) (31,297)
Net cash provided by operating activities (6,425,972) 2,507,300
Purchase of property, plant and equipment (337,237) (694,529)
Proceeds from sale of property, plant and equipment –13 –13
Purchase of investments14 –13 –13
Sales of investments15 –13 –13
Purchase of investment property16 –13 –13
Purchase of Intangible Assets (125,279) (60,121)
Purchase of Listed Equities17 –13 –13
Interest received 319,231 124,800
Dividend - Quoted and unquoted investments18 62,640 253
Disposal of non-current assets19 500 (7,549)
Rent income20 6,396 13,086
Repayment of Staff Debtors21 41,618 21,922
Disposal of (FVOCI) financial assets (unlisted equities)22 –13 53,400
Unlisted AFS Disposed23 –13 –13
Net Cash provided by investing activities (32,131) (548,739)
Proceeds from borrowings –24 –24
Net cash provided by financing activities –25 –25
Cash and Cash equivalent at the beginning 3,102,042 1,143,481
Net increase/decrease in cash and cash equivalents (6,458,104) 1,958,561
Cash and Cash equivalent at the end of period (3,356,061) 3,102,042
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
  4. Printed “-”, read as nil: subtotal_arithmetic: cf.net_change_in_cash.
Notes and alternative reported figures (21)
  1. “Insurance premium received from policy holders,Brokers & Agents,Cedants” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 8.4).
  2. “Commission received” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34ai).
  3. “Reinsurance receipts in respect of claims” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34aii).
  4. “Reinsurance premium paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34aiii).
  5. “Prepaid Minimum and Deposit” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34aiv).
  6. “Other operating cash payments” is an issuer-specific line, not mapped to a shared definition: Operating activities.
  7. “Claims paid” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34av).
  8. “Other directly attributable expenses” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34av).
  9. “Payments to intermediaries to acquire insurance contracts” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34avi).
  10. “Maintenance expenses” is an issuer-specific line, not mapped to a shared definition: Operating activities (note 34avii).
  11. “Interest Paid” is an issuer-specific line, not mapped to a shared definition: Operating activities; dashes.
  12. “Purchase of investments” is an issuer-specific line, not mapped to a shared definition: Investing activities; dashes.
  13. “Sales of investments” is an issuer-specific line, not mapped to a shared definition: Investing activities; dashes.
  14. “Purchase of investment property” is an issuer-specific line, not mapped to a shared definition: Investing activities; dashes.
  15. “Purchase of Listed Equities” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 7); dashes.
  16. “Dividend - Quoted and unquoted investments” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 25).
  17. “Disposal of non-current assets” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 25).
  18. “Rent income” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 25).
  19. “Repayment of Staff Debtors” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 10).
  20. “Disposal of (FVOCI) financial assets (unlisted equities)” is an issuer-specific line, not mapped to a shared definition: Investing activities (note 7b).
  21. “Unlisted AFS Disposed” is an issuer-specific line, not mapped to a shared definition: Investing activities; dashes.

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.

No dividend statement or amount collected.

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.

  • Universal Insurance Plc Audited Financial Statements for the period ended 31, December 2025 (2025 Annual Report & Accounts)

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

    Audit: Ikeji & Co (Chartered Accountants), unmodified opinion · signed

    Auditor's sign-off: Ikeji Joseph, FCA, FRC/2014/ICAN/00000006519, for Ikeji & Co

    Final status: Independent auditor's report to the members of Universal Insurance Plc (opinion PDF p24, scanned) signed (handwritten) by Ikeji Joseph, FCA (FRC/2014/ICAN/00000006519) for Ikeji & Co, Lagos, dated 19 May, 2026, with the ICAN seal (PDF p30, page image). Statement of financial position 'Signed on behalf of the Board of Directors on May 8, 2026' with handwritten signatures of the chief executive officer and the chief finance officer only (PDF p71, page image). NAICOM's letter of 25 June 2026 granting no objection to publication is printed at PDF p2.

    Document date
    19 May 2026
    Auditor's report
    19 May 2026
    Board approval
    8 May 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · NGN thousands (printed “₦'000”)
    • 2024 statement of financial position (p71): total assets 22,193,531 against total equity and liabilities 22,193,530; 2024 closing cash in the cash-flow statement 3,102,042 against 3,102,043 on the statement of financial position. One-thousand differences kept as printed.
    • Company cash-flow columns (p74) also print 3,098,573 at the end of 2025 while the company statement of financial position shows 3,224,925 (2025) and 3,098,572 (2024): the Company's cash-flow columns appear to be printed in the wrong order. Company columns are not transcribed.
    • Group cash-flow statement (p74, confirmed on the page image): 'Insurance premium received' for Group 2025 is printed 15,131,733, the same as Group 2024, while the Company 2025 column prints 21,715,233. As printed, Group cash generated from operations is (6,238,975), net cash from operating activities (6,425,972), the net decrease (6,458,104) and cash and cash equivalents at the end of the period (3,356,061), a negative figure that contradicts Group cash and cash equivalents of 3,229,045 on the statement of financial position (p71). The Group cash-flow figures are kept as printed but are not reliable.
    • Auditor's report (pp24-30) is a scan; the 'Penalties' paragraph on p30 carries a typed text patch ('and circulars, SEC and NGX during the year ended 31 December 2025. Details of penalties paid are disclosed in note 33 ...') in a different typeface over the scanned page.
    • The archived pypdfium2 text of the statement pages orders some cells differently from the printed columns (e.g. 'Insurance service result' reads 2,797,047 before 991,054); the pypdf text used here follows the printed order, and each transcribed row was compared with the page renders.
    • The revaluation surplus on PPE is printed under 'Items reclassified to profit and loss' (p70). 'Other operating income' (500) is printed only in the Company 2025 column and is not transcribed. A row 'Net Increase/(decrease) in cash and cash equiv.' printing dashes precedes the opening cash line (p74) and is not transcribed.
    • Earnings per share is printed as 'Basic 12.46' (2024: 12.13, p70) with no unit; it is not transcribed (see gaps).
    Technical details
    File
    122 pages, with a text layer
    SHA-256
    d2de9dda52a511e41194d7b93b65a9c9870a0d3806ada99413e334810ef6625f
    Entity as printed
    Universal Insurance Plc ("the Company") and its subsidiary (together "the Group")
    Issuer copy
    retrieved 2026-10-08T20:40:03Z

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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