MUTUAL Benefits Assurance Plc has forecast a profit after tax of N15.41 billion for the 12 months ending December 31, 2026, as the insurer projects gross written premiums of N96.82 billion.
The company disclosed the projections in its 2026 earnings forecast released on Monday, September 21, 2026.
Mutual Benefits expects insurance revenue to reach N89.42 billion during the period, while insurance service expenses are projected at N81.56 billion.
The insurer is also forecasting N802.64 million in net income from reinsurance contracts held, resulting in an insurance service result of N8.66 billion.
Investment income is expected to provide a significant contribution to earnings, with the company projecting net investment income of N13.16 billion for the year.
After accounting for net insurance finance expenses of N1.99 billion, Mutual Benefits expects its combined insurance and investment results to rise to N19.84 billion.
ALSO READ: Traders exchange N154bn stocks as NGX suspends Unity Bank, Mutual Benefits, Lasaco shares
Other income is projected at N237.03 million, while total non-attributable expenses are estimated at N2.76 billion.
Consequently, the company expects to record profit before tax of N17.31 billion and pay N1.90 billion in income tax, leaving a projected profit of N15.41 billion for the year.
The company said its non-life business is expected to account for 72 percent of the projected gross written premium, while the life business will contribute the remaining 28 percent.
Related Articles
“Investment income will be driven largely by our investment in financial assets,” the insurer said in the forecast.
On cash generation, Mutual Benefits projects net cash flow from operating activities at N8.33 billion. Investing activities are expected to consume N7.42 billion, while financing activities are projected to generate N7.20 billion.
The company expects these movements to result in a net increase of N8.11 billion in cash and cash equivalents before accounting for the negative impact of exchange-rate changes of N1.94 billion.
Cash and cash equivalents, which stood at N38.35 billion at the beginning of 2026, are projected to close the year at N44.52 billion.
Mutual Benefits said the forecast includes non-cash items such as depreciation of non-current assets, amortisation of intangible assets and net fair-value gains or losses on financial assets.
