NEM Insurance PLC Reports 46.90% Increase in Net Premium Income in Q3 2021

NEM Insurance PLC has released its unaudited financial statement for the third quarter ended 30th of September 2021. 

  • Gross premium written during the period stood at N23.18 billion. (+23.48% YoY) 
  • Gross premium earned during the period was N21.35 billion. (+36.50% YoY) 
  • Net premium income for the period was N15.31 billion. (+46.90% YoY) 
  • Fee and commission income during the period was N1.17 billion. (+9.88% YoY) 
  • Net underwriting income of N16.48 billion was recorded. (+43.46% YoY) 
  • Profit before income tax for the period was reported as N2.45 billion. (+85%) 
  • Profit after tax for the period was N2.07 billion. (+85%) 
  • Loans and advances to customers for the period was N6.7 billion (+40.29 YoY) 
  • Total assets during the period stood at N35.23 billion. (+4.06 bn YtD) 

See link to results 

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