Linkage Assurance Plc plans to raise ₦16 billion to strengthen its balance sheet and drive growth.
Consequently, the board will explore private placement, rights issue, public offer, or a combination.
Linkage Assurance Capital Raise Plan
According to Company Secretary Moses Omorogbe, the board will set the terms, pricing, and timing.
This capital raise will support expansion and position the company for long-term stability.
To achieve this, the company will increase its authorised share capital to accommodate new shares.
Additionally, the new shares will rank equally with existing ones and register with SEC, CAC, and NGX.
The company will also amend its governing documents to reflect the new share capital structure.
Moreover, the board will appoint professional advisers to guide the process and ensure full regulatory compliance.
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It will execute agreements and take all necessary steps to implement the capital raise.
Furthermore, the board has approved and ratified all prior actions related to the process.
Strong Q1 Performance
Linkage Assurance posted a pre-tax profit of ₦829.5 million for Q1 2025, rising 7.8% year-on-year.
Revenue increased 18.2% to ₦6.05 billion, driven by oil and gas, motor, and fire segments.
Specifically, oil and gas contributed ₦7.5 billion, motor insurance ₦5.07 billion, and fire insurance ₦3.7 billion.
Other business lines also added revenue, reinforcing overall financial performance and growth prospects.
Growth Outlook
The company continues to meet regulatory requirements while protecting shareholder value.
With the capital raise and strong results, Linkage Assurance will expand its Nigerian footprint.
Overall, the insurer focuses on financial resilience while actively exploring new opportunities in the insurance sector.
