Linkage Assurance Plc has released its unaudited financial statements for the nine months ended September 30, 2025, showing notable growth across key performance indicators, including total assets, equity, and insurance contract liabilities.
According to the statement signed by the Chairman, Chief Joshua B. Fumudoh, Managing Director/CEO Mr Daniel Braie, and Chief Financial Officer Mr Emmanuel Otiotaiye on Tuesday, the company’s total assets increased to ₦71.09 billion as of September 30, 2025, compared to ₦65.68 billion recorded at the end of December 2024.
The rise in assets was driven by a surge in investment securities, which climbed to ₦51.99 billion from ₦47.63 billion, alongside an improvement in cash and cash equivalents, which grew to ₦5.97 billion from ₦5.42 billion recorded in December 2024.
On the liabilities side, insurance contract liabilities rose significantly to ₦21.47 billion from ₦17.39 billion, reflecting the company’s expanding portfolio and coverage commitments. However, other payables decreased from ₦1.85 billion to ₦913.85 million, indicating more efficient financial management and settlement of outstanding obligations.
Total liabilities stood at ₦25.08 billion, up from ₦22.83 billion in December 2024, while the company’s total equity increased to ₦46.02 billion, compared to ₦42.84 billion recorded at the end of the previous financial year—a testament to Linkage Assurance’s solid capital position.
Key components of the company’s equity include retained earnings of ₦7.03 billion, up from ₦4.56 billion; a contingency reserve of ₦6.21 billion; and a fair value reserve of ₦22.75 billion, reflecting improved investment valuation.
The value of the company’s investment property also increased to ₦340 million, up from ₦340,000 in December 2024, underscoring renewed investment focus in real assets.
The financial statements were approved on October 27, 2025, by the Board of Directors and signed on behalf of the company by Chief Joshua B. Fumudoh, Mr Daniel Braie, and Mr Emmanuel Otiotaiye.
Management reaffirmed that the summary of significant accounting policies and the accompanying notes form an integral part of the financial statements, emphasising transparency and adherence to reporting standards.
News.ng reports that the strong financial performance demonstrates Linkage Assurance Plc’s resilience amid a challenging economic climate, highlighting its continued commitment to delivering value to shareholders and policyholders alike.
