Nigerian insurers are projected to record a combined Profit After Tax of N10.59bn for the first quarter of 2026, according to company filings with the Nigerian Exchange Group.

The forecast reflects strong contributions from major players, including AIICO Insurance Plc, Regency Alliance Insurance Plc, AXA Mansard Insurance Plc, and International Energy Insurance Plc.

AIICO Insurance Plc leads the sector with a projected PAT of N5.06bn, driven by an insurance service result of N3.26bn and net investment income of N20.85bn. Its cash flow outlook shows a net increase in cash and cash equivalents of N4.87bn, bringing closing cash balances to N24.08bn.

Regency Alliance Insurance Plc is expected to deliver a profit after tax of N1.06bn, supported by insurance revenue of N3.75bn and investment income of N420.27m. The company forecasts a net cash increase of N238.63m, ending the quarter with N1.52bn in cash and bank balances.

AXA Mansard Insurance Plc projects a PAT of N3.60bn, with insurance revenue of N47.18bn and net investment and other income of N5.42bn. Despite investment outflows of N7.02bn, the company maintains a strong cash position of N9.20bn at the quarter-end.

International Energy Insurance Plc forecasts a profit after tax of N868.48m, based on gross written premiums of N3.76bn and an insurance service result of N2.71bn.

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