Mutual Benefit Assurance Profit Surges on Strong Product Demand

The innovative products that Mutual Benefit Assurance Plc launched into the market have translated into bottom line (profit) growth even amid a challenging environment.

For the first nine months through September 2025, Mutual Benefit’s profit after tax (PAT) surged by 209.90 percent to N14.28 billion from N4.62 billion as at September 2024.

The company’s unaudited financial statements filed with the Nigerian Exchange 34.32 percent to N60.85 billion in the period under review from N44.34 billion as at September 2024.

A breakdown of the revenue figures shows Mutual Benefit Nigeria Plc generated revenue of N36.28 billion; Mutual Benefit Nigeria Limited, (N11.08 billion); Mutual Niger, (N10.54 billion), and Mutual Liberia, (N2.93 billion).

The company posted insurance service results of N9.36 billion as at September 2025, from a loss of N940.11 million as at September 2024.

Profit on investment contracts surged by 269.71 percent to N3.03 billion in September 2025 from N821.01 million the previous year.

Net investment income was up 5.42 percent to N11.51 billion in September 2025 from N10.92 billion the previous year.

The company is using its innovative product strategies to woo customers and magnify earnings as a lot of its peer rivals have capitulated to a difficult business environment.

Profit before income tax was up 153.39 percent to N15.28 billion in September 2025 from N6.03 billion as at September 2024.

On the balance sheet, total assets increased by 12 per cent to N168.46 billion as at September 2025, from N147.13 billion as at September 2024.

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