For the first time in three years, Regency Alliance Insurance Plc posted a year-on-year rise in Q1 profit, with profit after tax up 46.1 percent to N617.5 million in the first quarter ended March 31, 2026, from N422.6 million a year earlier, as a sharp rebound in net investment income more than offset weaker underwriting performance.
Insurance revenue for the quarter grew 5.85 percent to N2.96 billion from N2.80 billion in Q1 2025, driven mainly by the Motor segment, which more than doubled premium contribution to N771.2 million from N410.3 million, while Oil/Gas, the company’s largest line, declined to N877.4 million from N1.07 billion in Q1 2025.
Despite the revenue growth, Regency Alliance’s insurance service result, a measure of underwriting profitability, fell sharply by 56.2 percent to N118.3 million from N269.8 million a year earlier. This was not driven by claims, which actually improved, with insurance service expenses down 26.6
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