2020 FY Results: NEM Insurance Plc reports a 112% increase in profit after tax.

NEM Insurance Plc released its full-year results for the year ended December 2020.

  • Net premium income of N15.9 billion. (+25.7% YoY)
  • Total claims paid during the year was N6.05 billion (+53.8% YoY)
  • Underwriting profit of N5.98 billion. (+37.5% YoY)
  • Profit after tax for the year was N5.08 billion. (+112.3% YoY)
  • Earnings per share of 96 kobo Vs 45 kobo.
  • The Shareholders’ fund of the company increased by 4.3 billion representing a 30.2% rise YoY.
  • A final dividend of 9 kobo was proposed.

See link to results.

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