In the first quarter of 2026, listed insurance companies on the Nigerian Exchange Limited (NGX) experienced a decline in industry-wide revenue, which fell by 9.9 percent to N228 billion. Despite this downturn, some firms reported stronger profit growth during the same period. The mixed performance highlights the challenges faced by the sector, as revenue contraction occurred alongside varying levels of profitability among the companies. This situation underscores the complexities within the insurance market in Nigeria as firms navigate economic conditions.
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