Coronation Insurance Plc has capitulated to the volatile macroeconomic environment as its profit slumped in the first three quarters of the year raising concerns about the ability to deliver returns to shareholders.
For the first three months through March 2026, Coronation Insurance’s profit after tax (PAT) fell by 16.54 percent to N2.27 billion from N2.72 billion as at March 2025.
The insurer operates in a volatile economic landscape, rising inflation, foreign currency volatility, and regulatory pressures, which means it is practically difficult for it to translate top line (sales) impressive performance into bottom line (growth).
For instance, Coronation Insurance incurred N6.78 billion in reinsurance expenses in the first three months of 2026, which is 98.82 percent higher than 2025’s N3.42 billion.
Insurance service expenses were up 10.62 percent to N14.16 billion in the period under review from N12.80 billion the previous year.
The insurer’s revenue spiked by 32.82 percent to N20.92 billion as at March 2026 from N15.75 billion the previous year, driven by robust underwriting activities in its Nigeria and Ghana operations.
It is noteworthy that the company bancassurance partnership with Access Bank is yielding fruit as evidenced in an uptick in market share.
Total assets closed at N110.97 billion, up from N98.08 billion, while Shareholders’ Funds rose by 7.71 percent to N52.32 billion as at March 2026, reinforcing the institution’s financial strength and capacity to underwrite larger risks and serve more clients.
 Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
