Veritas Kapital Assurance Plc aims to be among Nigeria’s top five insurance companies by 2025, according to Managing Director and CEO Dr. Adaobi Nwakuche. Speaking at a media briefing in Lagos, Nwakuche outlined the company’s strategy to increase market share, enhance customer service, and upgrade technology.
The firm reported significant financial growth for H1 2024, with claims totaling N1.3 billion. Profit surged from N672.4 million in H1 2023 to N4.908 billion in H1 2024. Net insurance and investment results grew by 425%, and insurance revenue rose by 350%. The Gross Written Premium increased by 330%, while total assets and shareholders’ funds rose by 41% and 32%, respectively.
Nwakuche described the financial results as “magical” and anticipates continued success in the coming quarters.
