{
  "id": 10157812,
  "title": "Coronation targets higher premiums from capital raise, but investors want returns",
  "url": "https://urgent.news/2026/09/27/coronation-targets-higher-premiums-from-capital-raise-but-investors",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-27T06:36:29.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/09/27/coronation-targets-higher-premiums-from-capital-raise-but-investors-want-returns/"
  },
  "original_language": "en",
  "account": "Coronation Insurance Plc, a listed insurance company on the NGX, announced its plan to raise capital to increase its insurance risks and premium income. The Managing Director, Olamide Olajolo, stated that the company met its recapitalization requirements for both life and non-life businesses, leaving capacity to take on larger risks. However, shareholders are concerned about the impact of the capital raise on profits. Despite a 51.4% increase in insurance revenue to N74.83 billion, profit after tax fell to N7.52 billion from N11.91 billion. Management attributed the decline to factors outside the core insurance business. H1 2026 saw a 14.8% increase in insurance revenue to N37.81 billion and a 29.3% rise in insurance service result to N6.06 billion, indicating better performance from the core insurance business. The company's share count increased from about 23.99 billion to 28.53 billion due to the capital raise, making it more challenging for the company to match its 2025 earnings per share of 31 kobo. To achieve this, Coronation needs about N5.71 billion in profit for the second half of 2026, approximately 83% more than its H1 2026 profit. The company must control costs and sustain profit growth in H2 to generate additional earnings and support a return to dividends.",
  "summary": "Coronation Insurance Plc, one of the insurance companies listed on the NGX, says its stronger capital base will allow it to take on larger insurance risks and grow its premium income. The post Coronation targets higher premiums from capital raise, but investors want returns appeared first on Nairametrics .",
  "key_points": [
    "Coronation Insurance raises capital to increase insurance risks and premiums.",
    "Shareholders worry capital raise will hurt profits.",
    "H2 2026 profit target 83% higher than H1 2026."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}