By Oluwakemi Kindness
Nigeria’s insurance industry recorded a Gross Premium Written (GPW) of ₦2.3 trillion in the fourth quarter of 2025, highlighting strong growth in the sector.
Data from the Research and Statistics Department of the National Insurance Commission (NAICOM), Abuja, showed that the industry posted a 47.3% year-on-year growth and about 36% quarter-on-quarter increase.
The report described the performance as “an impressive quarter-on-quarter change of about thirty-six per cent and about forty-seven per cent growth rate on year-on-year basis,” reflecting sustained expansion in the market.
Total industry assets also rose to ₦4.79 trillion, representing a 7.4% increase compared to the previous quarter.
According to the report, the industry’s performance “underscores its increasing relevance and structural importance in Nigeria’s financial ecosystem,” driven by growing public confidence and regulatory reforms.
The Commission noted that the sector’s growth was supported by improved underwriting activities and stronger market fundamentals, adding that the industry has shown “significant resilience amidst a challenging macroeconomic environment.”
Despite economic pressures, the report maintained that the sector’s outlook remains positive, with ongoing reforms and recapitalisation efforts expected to further strengthen market capacity and deepen insurance penetration.
