NEM Insurance projects N65.26bn revenue for Q1 2026, anticipates N13.16bn pre-tax profit
NEM Insurance Plc has projected insurance revenue of N65.256 billion for the first quarter (Q1) of 2026, according to a forecast submitted to the Nigerian Exchange Ltd. The general insurance underwriter also anticipates total assets rising to N177.279 billion, with profit before tax at N13.158 billion and profit after tax at N11.710 billion for the period.
The forecast reflects the company's confidence in its business fundamentals, supported by strong underwriting performance, prudent risk management, and effective investment strategies. This follows a strong performance in the 2025 financial year, where the company paid a dividend of N5.02 billion for the 2024 financial year.
Recent performance shows significant growth. In the unaudited Q3 2025 results, total assets reached N165.46 billion as of September 30, 2025, up from N121.93 billion at the end of December 2024. Shareholders' equity climbed to N80.97 billion from N65.44 billion, indicating a stronger capital base. Insurance revenue grew 55% year-on-year to N107.44 billion in Q3 2025 from N69.52 billion in Q3 2024.
For Nigerian investors tracking the insurance sector, NEM's forecast suggests continued growth momentum. The company's ability to expand its balance sheet while maintaining profitability could signal broader sector strength. As with any forecast, actual results may vary based on market conditions and operational execution.