Coronation Insurance Q3 Profit Slumps on Rising Costs and Foreign Exchange Losses

Coronation Insurance Plc has capitulated to rising inflation and currency pressures as profit fell for the insurer, which incurred foreign exchange revaluation loss.

This exceptional loss prevented impressive top line performance (sales growth)from translating into the bottom line.

For the first nine months through September 2025, Coronation Insurance profit after tax (PAT) reduced by 59.63 percent to N3.71 billion from N9.19 billion as at September 2024.

It is important to note that the company posted foreign exchange loss of N996.59 million, from a gain of N4.28 billion as of September 2024.

The stability in the foreign exchange market following injection of liquidity by the regulator is not a boon for financial institutions with dollar denominated assets in their books.

Also, the insurer incurred N3.87 billion in Finance expenses from insurance contracts issue. Management expenses spiked by 176.63 percent to N6.75 billion as at September 2025 from N2.44 billion as at September 2024.

Revenues were up 54.63 percent to N51.17 billion in the period under review as the insurer is the fastest-growing bancassurance player in Nigeria.

Total assets closed at N103.09 billion, up from N76.79 billion, while Shareholders’ Funds rose to N44.81 billion, reinforcing the institution’s financial strength and capacity to underwrite larger risks and serve more clients.

Coronation Insurance remain focused on building platforms that create long-term value, strengthening governance structures that inspire confidence, and investing in talent that powers our capacity to deliver sustainable growth,” Sunmonu added.

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