NEM Insurance coverage Plc has reported a pre-tax revenue of N27.9 billion for the total yr 2025, based on its newest {financial} assertion printed on the Nigerian Change.
Though this represents a 16.7% decline from the N33.5 billion recorded in 2024, the efficiency stays strong, with the fourth quarter contributing N4.2 billion to full-year earnings.
Whereas earnings declined year-on-year, the corporate delivered a robust top-line efficiency, supported by sturdy development in insurance coverage income and premium revenue.
Insurance coverage income rose sharply to N146.1 billion, reflecting sturdy underwriting exercise throughout key enterprise traces.
As anticipated, increased income was accompanied by rising prices. Insurance coverage service bills elevated by 40.99% to N84.7 billion, whereas reinsurance contract bills greater than doubled to N38.5 billion from N18.3 billion.
Because of this, the insurance coverage service consequence settled at N22.8 billion.
Nonetheless, profitability was weighed down by a internet overseas alternate lack of N3.0 billion, in contrast with a N14.7 billion achieve within the earlier yr. This reversal considerably affected funding efficiency, with the online funding consequence declining to N15.4 billion, down 33% year-on-year.
When mixed, internet insurance coverage and funding revenue got here in at N37.6 billion, decrease than the N41.4 billion recorded in 2024.
After accounting for administration bills of about N9.6 billion, pre-tax revenue settled at N27.9 billion.
NEM Insurance coverage closed the yr with complete belongings of N176.5 billion, representing a 44.81% enhance from the earlier yr, pushed largely by development in {financial} investments.
On the liabilities aspect, complete liabilities rose to N92.0 billion from N56.4 billion, with insurance coverage contract liabilities accounting for N61.0 billion.
Complete fairness elevated to N84.5 billion from N65.4 billion, supported by retained earnings of N56.2 billion, which remained the biggest part of shareholders’ funds.
