NEM Insurance eyes N66bn revenue in Q1 2026

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NEM Insurance Plc has projected insurance revenue of N65.256 billion in the first quarter (Q1) of 2026.

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The company disclosed this in a forecast submitted to the Nigerian Exchange Ltd. on Sunday, reaffirming its positive growth outlook following strong performance in the 2025 financial year.

The forecast also indicated that the general insurance underwriter expects total assets to rise to N177.279 billion in the period, with profit before tax projected at N13.158 billion and profit after tax at N11.710 billion.

According to the company, the outlook reflects confidence in its business fundamentals, supported by strong underwriting performance, prudent risk management and effective investment strategies.

NEM Insurance recalled that it paid a dividend of N5.02 billion for the 2024 financial year as part of its commitment to shareholder value creation

A review of the company’s unaudited third quarter (Q3) 2025 results, earlier filed with the NGX, showed that total assets rose to N165.46 billion as at Sept. 30, 2025, from N121.93 billion at the end of December 2024.

The balance sheet expansion was driven by increased underwriting activities and sound investment decisions, while shareholders’ equity climbed to N80.97 billion from N65.44 billion, reflecting a stronger capital base.

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Operational performance also improved year-on-year, as insurance revenue grew by 55 per cent to N107.44 billion in the third quarter of 2025 from N69.52 billion recorded in the corresponding period of 2024. (NAN)