Linkage Assurance Plc delivered a strong earnings performance in the first half of 2026, with profit after tax rising 74 per cent to N3.11bn despite a challenging business environment.

The company’s unaudited financial statements for the six months ended 30 June 2026, submitted to the NGX shows that profit before tax climbed 68 per cent to N3.27bn from N1.95bn in the corresponding period of 2025, while profit after tax increased from N1.79bn to N3.11bn. Insurance revenue also expanded by six per cent to N13.30bn.

The result comes at a time when Nigeria’s insurance industry is battling elevated inflation, rising claims costs, currency volatility and higher operating expenses. These pressures, analysts say, have squeezed underwriting margins across the sectors.

Although insurance revenue recorded moderate growth, insurance service expenses jumped 42 per cent to N11.78bn, underscoring the impact of claims in managing insurance business.

Linkage Assurance achieved a 70 per cent increase in investment and other incomes, which rose to N5.94bn from N3.49bn. The strong growth in investment earnings highlights how Nigerian insurers have increasingly leveraged their investment portfolios to support overall profitability as elevated interest rates continue to enhance returns on government securities and other fixed-income assets.

Linkage’s balance sheet also strengthened during the period, with total assets increasing by seven per cent to N82.19bn from N76.90bn at the end of December 2025, supported by higher investment holdings and growth in insurance-related assets.

Shareholders’ equity also rose to N49.58bn from N46.69bn, driven largely by retained earnings generated during the period.

Managing Director/CEO, Linkage Assurance, Daniel Braie, said the company would continue to pursue its 2026 strategy themed “Consolidation,” focusing on business growth, operational excellence, financial excellence and customer experience.

“We also have plans to deepen our digital transformation, expand market share in profitable business segments and strengthen our motor insurance offerings,” the CEO said.