Sign in Subscribe
Financial services

Nasria Records Strong Financial Performance, Pays N$16 Million Dividend to Government

Strategic Insights

— 2 min read

Nasria, the Namibia Special Risks Insurance Association, has announced a robust financial performance for the 2024/2025 fiscal year, culminating in a N$16 million dividend payment to the government. The insurer's consistent clean audits and unqualified opinions are a testament to its sound financial management and operational efficiency. Nasria's insurance revenue increased by 6%, driven by policy renewals and new business across various sectors, while its reserves grew to N$870 million, reflecting its continued profitability.

Key Takeaways:

  • Nasria paid a N$16 million dividend to the government after recording a strong financial performance in 2024/2025.
  • The insurer maintained its record of clean audits with an unqualified opinion, providing insurance cover against politically motivated and special risks.
  • Insurance revenue increased by 6% to N$89 million, supported by policy renewals and new business across several sectors.
  • The insurance service result fell by 23% to N$45 million due to higher costs and claims.
  • Nasria's reserves grew from N$801 million to N$870 million, reflecting continued profitability and careful financial management.
  • Total assets stood at N$960 million as of 31 March 2025, and assets topped N$1 billion for the first time in its history by June 2025.
  • Liabilities rose by 37% to N$92 million due to growth in the asset base and expanding operations.
  • Nasria established a special risk insurance subsidiary in Botswana, trading as BOSRIA, which will expand its regional footprint and provide cross-border insurance cover.
  • The company invested more than N$437,000 in 13 community projects during the financial year, supporting initiatives in agriculture, education, health, and community development.
  • Managing Director John Uusiku stated that Nasria remains financially sound, well-governed, and strategically positioned to support Namibia's long-term economic resilience.

Statistics:

  • N$16 million: The dividend paid to the government by Nasria for 2024/2025.
  • 6%: The increase in insurance revenue to N$89 million.
  • N$45 million: The insurance service result, which fell by 23%.
  • N$801 million to N$870 million: The growth in reserves reflecting continued profitability and careful financial management.
  • N$960 million: The total assets as of 31 March 2025.
  • N$1 billion: The assets that topped N$1 billion for the first time in its history by June 2025.
  • 37%: The rise in liabilities to N$92 million due to growth in the asset base and expanding operations.
  • N$437,000: The amount invested in 13 community projects during the financial year.

Sources:

  • Staff Writer, "Nasria Records Strong Financial Performance, Pays N$16 Million Dividend to Government", The Namibia Special Risks Insurance Association (Nasria)

Read more