NEM Insurance Plc has projected a robust start to the 2026 financial year, with profit after tax expected to reach ₦11.71 billion in the first quarter, reinforcing the company’s strong growth trajectory in Nigeria’s insurance market.
The projection was disclosed in the company’s Q1 2026 financial forecast submitted to the Nigerian Exchange Group (NGX). According to the filing, the general insurance underwriter anticipates solid improvements across key performance indicators, driven by disciplined underwriting, effective risk management, and strategic investments.
Key Financial Projections for Q1 2026
- Total Assets: ₦177.279 billion
- Insurance Revenue: ₦65.256 billion
- Profit Before Tax (PBT): ₦13.158 billion
- Profit After Tax (PAT): ₦11.71 billion
NEM Insurance noted that the outlook reflects confidence in its business fundamentals and builds on the company’s impressive quarterly performance throughout the 2025 financial year.
“Insurance revenue is expected to hit ₦65.256 billion, while profit before tax is projected at ₦13.158 billion and profit after tax at ₦11.71 billion, underscoring the company’s sustained profitability and operational efficiency,” the company stated.
Strong Fundamentals and Shareholder Value
The insurer attributed its positive outlook to strong underwriting performance, prudent risk management, and effective investment strategies, which have continued to support earnings growth and balance sheet expansion.
The company also highlighted its commitment to shareholder value, recalling that it paid ₦5.02 billion in dividends for the 2024 financial year. The dividend payout was widely commended by shareholders at the company’s 2025 Annual General Meeting (AGM).
With its strong capital position, improving revenue profile, and disciplined operational strategy, NEM Insurance remains well-positioned to sustain growth and deliver long-term value in Nigeria’s evolving insurance landscape.