…as board approves 7Kobo dividend payment to shareholders
Lagos, Nigeria. September 18, 2025. The Board of Directors of Noor Takaful Insurance Ltd., the pioneer and leading takaful operator in Nigeria, has recorded a Profit After Tax (PAT) of N1.87 billion for the 2024 financial year. The Profit After Tax achieved by the company represents a significant increase of 79% from ₦1.05 billion that was recorded in the 2023 financial year.
The board also approved seven kobo dividend per share for the 2024 financial year, representing an increase in dividend payout from the five kobo paid out in the 2023 financial year.
The Chairman of the Board of Directors, Ambassador Shuaibu Ahmed disclosed this during the 8th Annual General Meeting (AGM) held on Wednesday, September 19th, 2025, at the Lagos Intercontinental Hotel in Lagos.
A breakdown of the audited result also revealed that Gross Written Contribution (GWC) grew impressively by 52%, moving from ₦6.49 billion in 2023 to ₦9.95 billion in 2024.
Speaking during the Annual General Meeting, Ahmed stated that despite the challenging operating environment influenced by macroeconomic headwinds characterised by high inflation, rising interest rates, and persistent volatility of the naira, the company remained resilient, weathering the storm to deliver growth and stronger profitability through prudent underwriting, disciplined risk management.
He described the strong growth recorded by the company as a reflection of the deepening trust of participants in the Takaful model as well as the successful expansion of both retail and corporate business lines.
“These results are more than just numbers; they embody the resilience, innovation, and collective effort that define Noor Takaful. Even in challenging times, we have remained true to our promise of delivering real and lasting value to all our stakeholders. Besides, the outcome is a clear testament to disciplined operations, prudent expense management, and sound investment strategies,” he said.
He stated that the company remains steadfast and unwavering in its mission to providing ethical, inclusive, and innovative insurance solutions that serve as a true alternative in the Nigerian market.
He emphasised the company’s commitment to continue delivering sustainable value, upholding its obligations, and contributing to the growth of Nigeria’s insurance industry.
About Noor Takaful
Noor Takaful Insurance Limited, a takaful insurance firm, was established and duly licensed by NAICOM in April 2016 as the full-fledged composite takaful insurance operator in Nigeria with 100 per cent Indigenous Nigerian shareholding. The company currently plays a pioneering and leading role in unlocking Nigeria’s takaful insurance potential. Its operational framework is regulated by NAICOM and is subject to the Insurance Act 2003.
2024 FY: Noor Takaful Insurance Records N1.87 Billion Profit After Tax
