Enterprise Group has staged a strong recovery from its first-quarter profit decline, posting a profit after tax of GH¢205 million for the first half of 2026, representing a 26 per cent increase over the same period in 2025.
The result was driven by a sharp improvement in second-quarter performance, with the group generating an estimated GH¢134 million in profit between April and June after recording GH¢71.3 million in the first quarter.
Enterprise’s first-quarter profit had fallen 49 per cent year-on-year, largely due to a significant increase in net insurance finance expense, which rose to GH¢101.8 million from GH¢4.5 million a year earlier.
Despite the pressure from insurance finance costs, the group’s underlying insurance performance remained strong. Its insurance service result after reinsurance nearly doubled to GH¢122.4 million in the first quarter.
Presenting the group’s half-year results at the Ghana Stock Exchange’s “Facts Behind the Figures” forum in Accra, management said the latest figures reflected both improved profitability and stronger operational performance.
Net revenue increased by 21.7 per cent, while profit before tax rose 35.1 per cent. Operating expenses, meanwhile, grew by only 5.2 per cent, supporting the improvement in overall profitability.
Investment income also contributed significantly, reaching GH¢239 million during the six-month period.
Chief Financial Officer Michael Tyson said the performance demonstrated not only the scale of the group’s growth but also the quality of its earnings.
Enterprise’s insurance businesses paid approximately GH¢508 million in claims across life, health and general insurance during the period. The amount represented about 56 per cent of the group’s GH¢901 million insurance revenue.
Group Chief Executive Daniel Larbi-Tieku said the payment of claims remained central to the company’s relationship with policyholders, stressing that the group viewed claims settlement as a commitment rather than simply an expense.
The group also paid GH¢144 million in taxes during the six months.
Its pensions business paid more than GH¢500 million in Tier 2 and Tier 3 retirement benefits, with the payments made within the regulator’s 16-day settlement period.
Looking ahead, management said it expected revenue and profit to strengthen further by the end of 2026, with restoring the group’s Nigerian operations to break-even identified as a key priority.
Enterprise also plans to expand its risk products, increase automation and invest further in digital services.
The company has already introduced a mobile motor claims service, an online life insurance application platform and a digital claims portal. Management said the expansion of digital services would be accompanied by stronger cybersecurity measures.
The group is also targeting growth in retail insurance through its Healing Care health product and personal pensions, while seeking to expand products aimed at workers in the informal sector.
Enterprise has also increased its focus on sustainability, with 18 electric vehicles deployed across its operations and solar power installed at some offices.
As part of its social investment programme, the group spent GH¢2.5 million on a maternal and child care ward at Sunyani Municipal Hospital and is committing another GH¢2.5 million to a school block at Papao in Accra, scheduled for completion by the end of November.
