NEM Insurance Aims for N19.7 Billion H1 Profit in 2026

NEM Insurance Plc has set a target profit of N19.7 billion for the first half of 2026, representing a significant increase from the N15.4 billion profit recorded in the first half of 2025. The projected earnings per share for this period is N3.95.

The anticipated growth is supported by strong insurance revenue, projected to reach N102.4 billion, with contributions from oil and gas insurance estimated at N28 billion, motor insurance at N27.2 billion, and fire insurance at N18.1 billion. The company expects higher insurance service expenses of N62.7 billion and reinsurance expenses of N17.1 billion, leading to an insurance service result of N22.5 billion.

Dividend income is projected to rise to N839.6 million from N626.9 million in 2025. However, NEM Insurance anticipates a foreign exchange loss of N591.6 million and operational expenses of N7.2 billion.

The forecasted pre-tax profit is N22.2 billion, an increase from N17.9 billion in the first half of 2025.