NEM Insurance Approves N7.5bn Dividend for 2025FY

At the 56th annual general meeting held in Lagos, shareholders of NEM Insurance Plc approved a N7.5 billion dividend payout for the 2025 financial year. The board recommended a dividend of N1.50 per ordinary share, subject to withholding tax at the appropriate rate.

Mr. Tope Smart, the Group Chairman, noted that the company excelled in its performance amid local and foreign challenges, maintaining its leadership position in the insurance sector. The group recorded a gross premium income of N166.8 billion, with the parent company achieving N157.8 billion during the review period, compared to N110.7 billion in the previous year.

Despite a decline in profit before tax from N29 billion in 2024 to N24 billion in the current review due to foreign exchange losses, the group's financial assets increased by 38%, and total equity improved by 49.8%. The company anticipates sustaining its performance with support from stakeholders and government efforts to enhance economic conditions.