NEM Insurance Plc has projected a strong financial performance for the first quarter of 2026, with profit after tax expected to reach ₦11.71 billion, as the company sustains its growth momentum in Nigeria’s insurance market.

In its first-quarter 2026 forecast submitted to the Nigerian Exchange Group, the general insurance underwriter also estimated total assets of ₦177.279 billion, insurance revenue of ₦65.256 billion, and profit before tax of ₦13.158 billion.

A statement made available to PUNCH Online on Sunday said the forecast reaffirms the company’s strong growth outlook following its impressive performance in quarterly reports released during the 2025 financial year.

“According to the forecast, the general insurance underwriter projects total assets of ₦177.279 billion in the first quarter of 2026.

“Insurance revenue is expected to hit ₦65.256 billion, while profit before tax is projected at ₦13.158 billion and profit after tax at ₦11.71 billion, underscoring the company’s sustained profitability and operational efficiency,” the statement read.

NEM Insurance said the outlook also reflects confidence in its business fundamentals, supported by strong underwriting performance, prudent risk management and effective investment strategies.

The statement recalled that the company paid a dividend of ₦5.02 billion for the 2024 financial year as part of its commitment to shareholder value, a move that drew commendation from shareholders at its 2025 Annual General Meeting.

It added that “a review of the company’s unaudited third-quarter (Q3) 2025 results, earlier released on the NGX, further highlights its strong growth trajectory.

“Total assets rose significantly to ₦165.46 billion as of September 30, 2025, compared with ₦121.93 billion at the end of December 2024.

“At the same time, shareholders’ equity climbed to ₦80.97 billion from ₦65.44 billion, reinforcing the company’s solid capital base and improved shareholder value in Q3 2025.

“Operational performance also showed marked improvement year-on-year. Insurance revenue surged to ₦107.44 billion in Q3 2025, up from ₦69.52 billion recorded in the corresponding period of 2024, representing a 55 per cent increase.”

The statement added that industry analysts say the company’s strong growth, capital base and dividend record position it well in Nigeria’s insurance market.