NEM Insurance Proposes N1.50 Dividend Amid Revenue Growth

NEM Insurance Plc announced a proposed dividend of N1.50 per ordinary share, amounting to approximately N7.52 billion, during its 56th annual general meeting. Group Chairman Tope Smart reported robust revenue growth for the year ending December 31, 2025, with gross premium income rising to N166.8 billion, a significant increase from N110.7 billion in 2024.

Insurance revenue specifically grew by 56 percent, reaching N152.3 billion. However, the company's bottom line faced pressure due to Nigeria's currency challenges, with profit before tax declining from N29 billion to N24 billion, attributed to foreign exchange losses.

Despite these challenges, NEM Insurance maintained its leadership in the general insurance business, achieving a 70 percent increase in investment income to N12.9 billion. The company is diversifying its portfolio, including life insurance services, and plans to unveil a viable life assurance company soon.

The proposed dividend reflects the board's commitment to returning value to investors, with total assets and equity improving by 49.8 percent and 29 percent, respectively.