…as board approves 7Kobo dividend payment to shareholders
The Board of Directors of Noor Takaful Insurance Ltd., the pioneer and leading takaful operator in Nigeria, has posted a Profit After Tax (PAT) of N1.87 billion for the 2024 financial year, representing a significant increase of 79% from ₦1.05 billion that was recorded in the 2023 financial year.
Also, the board 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 characterized 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.