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Despite the macroeconomic uncertainties, Prudential Zenith Life (PZL) Limited Insurance has continued to grow profit to the delight of shareholders who have invested in the entity with a view to earnings higher returns.
For the year ended December 2024, Prudential Zenith Life (PZL) posted profit after tax (PAT) of N7.38 billion, which is 21.18 percent higher than 2023’s N6.09 billion.
Profit before tax was up 20.94 percent to N7.45 billion in December 2024 from N6.09 billion as at December 2023.
The insurer’s revenue spiked by 37.13 percent to N16.25 billion in the period under review from N11.85 billion the previous year.
Total equity or shareholders’ funds rose by 32.04 percent to N30.45 billion in December 2024 from N23.06 billion as at December 2023.
Higher government bond yields are improving life insurers’ investment returns and margins for fixed annuities. And PZL is beneficiary of a high interest rate environment as interest income surged by 69.25 percent to N9.14 billion in the period under review from N5.41 billion the previous year.
The yield on Nigeria 10 year bond yield rose to 16.64 percent on September 25, 2025, marking a 0 percentage point increase from the previous session.
Over the past month, the yield has edged up by 0.96 points, though it remains 3.09 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity.
In 2024, Global Insurance giant, Prudential Insurance Group plc acquired 100 percent stake in PZL as it had confidence in the country’s insurance sector that was in its embryonic stage.
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