Revenue Stability Amid Sector Growth

Sterling Assurance reported an estimated annual revenue of $7.2 million USD (approximately N11.5 billion at current rates) for 2025, reflecting

Team Expansion and HR Developments

The company is actively growing its workforce to enhance service delivery. On February 12, 2025, Titilayo Munis joined as Manager,

Leadership Context

Dr. Fatai Kayode Lawal, former MD/CEO, transitioned to MD/CEO of Continental Reinsurance Nigeria in April 2025. No successor announcement has

Financial Performance Reference (FY 2023, Latest Publicly Available)

Building on a 32% profit growth to N794 million in 2023 (driven by N5.9 billion in gross written premiums), interim

Broader Sector and Economic Context

Nigeria's insurance market benefits from post-reform stability highlighted in the IMF's 2025 Article IV Consultation (July 2025), which notes improved

Account update approval 2024 29 July, 2025

Balance Sheet: Company’s Expanding Strength

The company’s balance sheet strengthened significantly in 2024, providing a foundation for future growth.

• Total Assets nearly

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2024: Growth, Challenges, and Strategic Adjustments.

The 2024 financial year was marked by rapid revenue expansion but also heightened cost pressures as a result of regulatory

Governance and Board Updates

As part of efforts to deepen governance and strengthen strategic leadership, Sterling Assurance announced new appointments to its Board in

Macro & Operating Environment

• Sterling Assurance’s operations in 2024 were significantly influenced by macroeconomic headwinds: inflation, currency volatility (exchange rate instability), regulatory scrutiny, and

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