Linkage Assurance Posts 31% Profit Growth to N4.09bn as Total Assets Reach N100.83bn

Linkage Assurance Plc reported a 31 percent increase in profit after tax to N4.09 billion for the nine months ended September 2026, up from N3.12 billion a year earlier, while total assets rose 31 percent to N100.83 billion. The insurer disclosed the unaudited results in a filing with NGX Limited, Businessday reported on November 1, 2026.

Linkage Assurance's Nine-Month Earnings Breakdown

Profit before tax increased 29 percent to N4.32 billion from N3.34 billion. Investment and other income rose 27 percent to N7.71 billion from N6.05 billion, supporting the profit growth as claims and other insurance-related costs rose.

Insurance revenue grew 6 percent to N20.55 billion from N19.30 billion. Gross claims paid out amounted to N5.59 billion, compared with N4.02 billion in the same period of 2025.

Total assets stood at N100.83 billion as of September 30, 2026, against N76.90 billion at the end of December 2025. Linkage Assurance said its strategic focus for 2026 is centred on consolidation, with emphasis on business growth, operational excellence, financial excellence, and customer and people development.

Daniel Braie, managing director and chief executive officer, said the strategy would guide efforts to increase market share in profitable business segments while improving customer experience in an increasingly competitive insurance market. "We will continue to offer customers different motor insurance options based on their risk exposure, willingness and ability to pay," he said, adding that technology and digital transformation are important components of the growth strategy.

Linkage Assurance's Capital Raise and Earlier Results

According to akta.pro company records, the Securities and Exchange Commission approved a N16.26 billion rights issue of 12.32 billion ordinary shares at N1.32 each on a 2-for-3 basis in March 2026. The same records list total funding of $11.7 million, with the last round dated March 11, 2026.

Linkage Assurance is a Nigerian publicly listed non-life insurer providing motor, property, travel, oil and gas, marine, aviation, engineering, agricultural, and general accident products to individuals, SMEs, and corporate clients. It was founded in 1991 and is headquartered in Lekki.

Linkage Assurance's Half-Year Profit and Rights Issue

In August 2026, Linkage Assurance reported a 73.9 percent surge in half-year profit to N3.11 billion, driven largely by investment income rather than underwriting growth, while completing a fully subscribed N16.2 billion rights issue to meet new NAICOM capital requirements, Dmarketforces reported. Punch Newspapers reported a 74 percent increase in profit after tax to N3.11 billion for the first half of 2026.

In July 2026, Punch Newspapers reported that Linkage Assurance completed its N16.2 billion rights issue, raising capital through 12.32 billion ordinary shares at N1.32 per share, fully subscribed by shareholders and approved by the Securities and Exchange Commission. Businesstodayng reported that the rights issue opened on March 11, 2026 and closed on April 23, 2026, with proceeds intended to meet minimum capital requirements under NAICOM's recapitalisation directive and fund business expansion.

What Comes Next for Linkage Assurance

The company said its strategic focus for 2026 is centred on consolidation, with emphasis on business growth, operational excellence, financial excellence, and customer and people development.