NEM Insurance Reports 30.54% Profit Growth in 2026

NEM Insurance Plc recorded a pre-tax profit of N31.02 billion for the nine months ending September 30, 2026, reflecting a 30.54% increase from N23.77 billion in the same period of 2025. This growth was attributed to stronger insurance operations and investment gains.

The company's unaudited financial statements, filed with the Nigerian Exchange on October 29, 2026, indicated that the nine-month pre-tax profit had already exceeded the N27.98 billion recorded for the entire 2025 financial year. Profit after tax also rose by 30.54% to N26.77 billion, despite facing higher reinsurance expenses, foreign exchange losses, and management costs.

NEM Insurance's total assets increased by 14.35% to N204.22 billion from N178.59 billion at the end of December 2025. However, a decline in cash balances and negative operating cash flow highlighted challenges in cash generation despite the increase in accounting profit.

The company was trading at N27.50 per share during early trading on October 29, 2026.