The unaudited Q2 result of Sovereign Trust Insurance Plc has shown a consistent rise in its revenue generation going by the released result on the floor of Nigerian Exchange Limited (NGX) recently. The underwriting firm generated a total sum of N34bn in the second quarter of 2025, compared to the sum of N23.5bn that was recorded in the same period in 2024, representing a growth rate of 45%.
The second quarter performance indicates that the company is very much on course with meeting the aspirations of its various shareholders in the days ahead.
The investments return for the 2nd quarter grew from N446.4m in the same corresponding period in 2024 to N1b in the same period in 2025, representing a 130% growth rate. The profit before tax also increased by 36% from N1.1bn in the second quarter of 2024 to N1.5b in the same corresponding period of 2025. Profit after tax also increased by 20% from N941.6m to N1.3bn in the second quarter of 2025.
The company’s total assets grew by 14% moving to N27.7bn in the second quarter of the year as against N24.4bn that it was in the same corresponding period of 2024. The total liabilities witnessed a 20% surge from N10.1bn in June of 2024 to N12bn in June 2025 while total equity of the company grew by 10% from N14.3bn in the second quarter of 2024 to N15.7bn in the same corresponding period of 2025.
Conclusively, the basic earnings per share, (kobo) increased by 42% from 7 kobo in the second quarter of 2024 to 10 kobo in the same period of 2025. This the company statement cleared, the firm is poised to continue in its growth trajectory and is doing all to ensure that the shareholders and stakeholders of the company are delighted at every point in time.
