Sovereign Trust Insurance grows insurance revenue by 45% in second quarter 2025
The Managing Director and Chief Executive Officer of Sovereign Trust Insurance Plc, Olaotan Soyinka
Sovereign Trust Insurance Plc (the Company) has shown a consistent rise in its revenue generation going by the unaudited second quarter result released on the floor of Nigerian Exchange Limited (NGX) just recently. The Underwriting firm generated a total sum of N34b in the second quarter of 2025, compared to the sum of N23.5b that was recorded in the same period in 2024, representing a growth rate of 45%.
A statement from the DGM, Corporate Communications & Investor Relations, Segun Bankole, said, the second quarter performance indicates that the Underwriting Firm is very much on course with meeting the aspirations of its various Shareholders in the days ahead.
The Investments Return for the 2nd quarter grew from N446.4m in the same corresponding period in 2024 to N1b in the same period in 2025, representing a 130% growth rate. The Profit Before Tax also increased by 36% from N1.1b in the second quarter of 2024 to N1.5b in the same corresponding period of 2025. Profit After Tax also increased by 20% from N941.6m to N1.3b in the second quarter of 2025.
The Company’s Total Assets grew by 14% moving to N27.7billion in the second quarter of the year as against N24.4b that it was in the same corresponding period of 2024. The Total Liabilities witnessed a 20% surge from N10.1b in June of 2024 to N12b in June 2025 while Total Equity of the Company grew by 10% from N14.3b in the second quarter of 2024 to N15.7b in the same corresponding period of 2025.
Conclusively, the Basic Earnings Per Share, (kobo) increased by 42% from 7 kobo in the second quarter of 2024 to 10 kobo in the same period of 2025. Undoubtedly, the Underwriting Firm is poised to continue in its growth trajectory and is doing all to ensure that the shareholders and stakeholders of the Company are delighted at every point in time.
