{
  "id": 17431327,
  "title": "Mutual Benefits records N13.89 billion pre-tax profit as insurance revenue hits N65.16 billion",
  "url": "https://urgent.news/2026/10/31/mutual-benefits-records-n13-89-billion-pre-tax-profit-as-insurance",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-31T16:05:08.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/31/mutual-benefits-records-n13-89-billion-pre-tax-profit-as-insurance-revenue-hits-n65-16-billion/"
  },
  "original_language": "en",
  "account": "Mutual Benefits Assurance Plc reported a nine-month pre-tax profit of N13.89 billion for the period ending September 30, 2026, marking a 9.1% decline compared to N15.28 billion in the same period last year. Despite a rise in insurance revenue, higher service expenses and weaker investment income impacted profitability. The insurance revenue grew by 7.1% to N65.16 billion, up from N60.86 billion, driven largely by the non-life business contributing N47.5 billion, or 73% of the group's insurance revenue. However, aviation insurance revenue fell to N130 million, down from N1.50 billion. Insurance service expenses increased by 24% to N60.71 billion, while net insurance and investment results declined by 26.2% to N13.72 billion. Profit after tax, however, decreased by 14.1% to N12.27 billion. Total assets grew by 18% to N207.90 billion, and total equity increased by 24.3% to N86.67 billion. Cash and cash equivalents rose by 4.6% to N40.13 billion. Despite the overall decline, the company's shares gained 1.64% to close at N3.09 on October 30, 2026.",
  "summary": "Mutual Benefits Assurance Plc reported a pre-tax profit of N13.89 billion for the nine months ended September 30, 2026... The post Mutual Benefits records N13.89 billion pre-tax profit as insurance revenue hits N65.16 billion appeared first on Nairametrics .",
  "key_points": [],
  "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."
}