NEM Insurance Projects N136bn Revenue by 2026

NEM Insurance Plc has announced a projected revenue of N136.19 billion for the financial year ending September 30, 2026. This forecast was made public following an official regulatory filing submitted to the Nigerian Exchange Group, which received formal approval from the company's Board of Directors.

The anticipated profit before tax is N26.89 billion, with a net profit projection of N23.93 billion. The company aims to maintain premium efficiency and expand its risk pool, expecting to yield N26.97 billion from its core insurance services.

Despite facing inflationary challenges and rising claims, NEM Insurance plans to utilize a robust balance sheet, with assets projected to reach N196.1 billion by mid-2026. The company will also allocate N26.02 billion for net expenses related to reinsurance contracts to manage risks effectively.

Overall, NEM Insurance is positioned to enhance its financial performance through strategic investments and a solid asset base.