Regency Alliance Insurance Plc says it paid N6.88 billion in insurance claims and related expenses in 2025, a 67 per cent increase from N4.12 billion recorded in 2024.
Chief Wale Taiwo, Acting Chairman of the company, disclosed this in a statement on Thursday while commenting on the company’s audited financial statements for the year ended Dec. 31, 2025.
Taiwo said that the increase in insurance service expenses, which comprised claims incurred and acquisition costs, reflected the company’s increased claims payouts during the year.
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He said net expenses from reinsurance contracts increased by approximately 88.18 per cent during the period.
He, however, said the higher claims-related and reinsurance expenses affected profitability, with profit before tax declining by 70.08 per cent to N749.04 million from N2.50 billion in 2024.
Similarly, profit after tax fell by 73.27 per cent to N602.68 million from N2.25 billion recorded in the preceding year.
In spite of the decline in profitability, Taiwo said the company recorded gross written premium of N10.31 billion in 2025, representing a growth of more than 38 per cent.
He said insurance revenue also increased by 32.06 per cent to N9.64 billion, representing an increase of N2.34 billion over the previous year’s figure.
According to him, net investment income grew by more than 48 per cent, supported by improved stock valuations on the Nigerian Exchange, in spite of a slight reduction in money market rates.
On the company’s financial position, Taiwo said shareholders’ funds increased by 4.31 per cent to N14.58 billion as at Dec. 31, 2025, from N13.97 billion in 2024.
At the group level, total assets stood at N20.85 billion, while shareholders’ funds rose to N14.68 billion from N14.04 billion.
The Managing Director, Mr Bode Oseni, reaffirmed the company’s commitment to delivering value to shareholders through professionalism, accountability and improved service delivery.
Oseni said the company would continue to strengthen customer confidence, improve operational efficiency and provide insurance solutions to individuals, businesses and institutional clients.
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