Big news from Nigeria’s insurance sector! NEM Insurance Plc has just announced a stellar performance in Q3 2025, with total assets climbing to ₦165.46 billion, up from ₦121.93 billion at the end of 2024. This impressive growth cements NEM’s position as one of Nigeria’s leading general insurance companies.
The unaudited financials released to the Nigerian Exchange Group (NGX) reveal that the insurer’s solid balance sheet expansion was driven by improved underwriting performance and smart investment strategies.
Key Highlights:
- Total liabilities: ₦84.49 billion (up from ₦56.49 billion in Dec 2024), reflecting rising business activity and strong risk-bearing capacity.
- Total equity: ₦80.97 billion (up from ₦65.44 billion), showcasing enhanced shareholder value.
- Insurance revenue: ₦107.44 billion, up 55% from ₦69.52 billion in Q3 2024.
- Net insurance and investment results: ₦30.39 billion, a 45% increase from ₦20.92 billion last year.
- Profit after tax: ₦20.51 billion, up from ₦13.56 billion in Q3 2024.
Commitment to Customers
NEM Insurance also paid out ₦30.54 billion in claims, more than double the ₦14.94 billion in Q3 2024. This underscores the company’s dedication to fulfilling obligations and protecting policyholders.
Leading the Market
Thanks to these achievements, NEM Insurance is now ranked #1 among listed insurers on the NGX by insurance revenue and has received the Best General Insurance Company in Nigeria award from Almond Communications. Analysts praise the company’s robust corporate governance, prudent underwriting, and effective claims management.
Driving Growth Through Innovation
The management credits the success to strategic investments, operational discipline, and technology-driven innovations, which continue to enhance service delivery and customer experience. With a strong capital base, an expanding customer network, and a diversified investment portfolio, NEM Insurance is well-positioned for sustainable growth, delivering value to both shareholders and policyholders.
Nigeria’s insurance sector is watching closely, and NEM Insurance is clearly leading the charge!