As businesses in Nigeria continue to respond to volatile economic conditions, Fortis Global Insurance Plc has announced a loss of N4.61 billion in the last quarter of 2025, compared with N5.04 billion in the same period of 2024, news.ng reports.
In the financial statements released on Tuesday, earnings per share fell to N13.02 in 2025 from N38.65 in 2024.
In its core underwriting business, the insurer recorded a remarkable profit of N136.38 million in 2025, up from N66.05 million in 2024. Gross premium also surged to N461.02 million from N413.64 million, while net premium declined to N394.63 million from N413.64 million.
According to the statements, total assets as of December 31, 2025, stood at N25.05 billion, up from N13.76 billion, representing an 81.9 per cent increase.
The insurance company also reported cash and cash equivalents of N11.38 billion, up from N540.67 million in 2024.
The financial statements noted that total liabilities increased marginally from N14.84 billion to N15.70 billion, while shareholders’ equity was recorded at N9.35 billion in 2025, compared with N1.07 billion in the previous year.
The company’s share capital stood at N6.47 billion, while accumulated losses were N18.70 billion, with an off-take of share premium of N7.48 billion and miscellaneous losses of N1.81 billion.
