NEM Insurance Plc recorded a 30.54% enhance in pre-tax profit to N31.02 billion for the 9 months ended September 30, 2026, in contrast with N23.77 billion in the corresponding interval of 2025, supported by stronger insurance coverage operations and funding features.
According to the company’s unaudited financial statements filed with the Nigerian Exchange (NGX) on Thursday, October 29, 2026, the nine-month pre-tax profit has already surpassed the N27.98 billion recorded for the entire 2025 financial year.
Profit after tax additionally rose by 30.54% to N26.77 billion, regardless of larger reinsurance bills, international change losses and administration prices through the interval.
Investment features enhance NEM Profit
NEM Insurance’s earnings progress was supported by improved insurance coverage service outcomes and a considerable enhance in fair-value features on investments.
- Insurance income rose by 7.68% to N115.69 billion, whereas insurance coverage service bills declined by 6.16% to N63.49 billion, lifting the insurance coverage service outcome by 22.07% to N20.81 billion.
- Motor insurance coverage remained the biggest income contributor at N33.28 billion, adopted by Oil and Gas at N31.48 billion, Fire at N19.52 billion and Marine at N14.17 billion.
- Motor additionally generated the biggest insurance coverage service outcome at N11.67 billion, forward of Marine at N3.93 billion and Fire at N2.53 billion.
- Interest revenue rose by 23.46% to N9.47 billion.
- Net funding outcome elevated by 37.12% to N19.03 billion, whereas the mixed insurance coverage and funding outcome rose by 26.86% to N38.55 billion.
- Net bills on reinsurance contracts climbed by 38.11% to N31.39 billion from N22.73 billion, considerably outpacing insurance coverage income progress.
- Net international change losses elevated to N3.61 billion from N974.54 million, whereas administration bills rose by 12.78% to N7.43 billion.
The enhance in funding features helped offset larger reinsurance and international change prices, supporting the expansion in pre-tax profit.
NEM funding portfolio expands
NEM Insurance’s complete belongings elevated by 14.35% to N204.22 billion from N178.59 billion on the finish of December 2025, reflecting progress in its funding portfolio.
- Total liabilities rose by 6.74% to N100.97 billion, whereas shareholders’ fairness elevated by 22.91% to N103.26 billion, supported by retained earnings of N69.73 billion.
- Insurance contract liabilities elevated by 28.79% to N81.78 billion, with liabilities for remaining protection rising to N53.10 billion from N36.90 billion.
- Listed equities measured at honest worth via profit or loss elevated to N31.98 billion from N18.40 billion, whereas investments at amortised price rose to N88.63 billion from N76.78 billion.
- Cash and money equivalents declined by 55.64% to N12.25 billion from N27.61 billion as the corporate’s funding portfolio expanded.
- Operating money circulate turned destructive at N1.06 billion, in contrast with constructive working money circulate of N10.35 billion in the corresponding interval of 2025.
- Investing actions recorded a internet money outflow of N7.01 billion, whereas financing actions consumed N7.29 billion, largely reflecting dividend funds.
- The assertion of modifications in fairness recorded N7.52 billion in dividends paid, in contrast with N5.02 billion a 12 months earlier.
Despite the rise in accounting profit, the decline in money balances and destructive working money circulate spotlight the distinction between earnings progress and money technology.
NEM shares acquire 2.61% YTD
NEM Insurance was seen buying and selling at N27.50 per share through the early buying and selling session on Thursday, October 29, 2026, in line with the provided market knowledge.
- The inventory started the 12 months at N26.80 per share and has gained roughly 2.61%, rating 81st on the Nigerian Exchange in year-to-date efficiency.
- NEM reached the 12 months’s excessive of N34.45 per share on September 2, earlier than declining from that degree.
- The inventory worth rose from its 12 months low of N25.50 per share on July 9.
- Issued share capital remained at roughly 5.016 billion shares, whereas substantial shareholders collectively held 40.60% of the corporate.
- The nine-month outcomes point out stronger insurance coverage profitability and funding returns, alongside rising reinsurance prices and international change losses.
The capacity to maintain funding features whereas bettering money technology shall be related to NEM Insurance’s earnings outlook in the ultimate quarter of 2026. However, the decline in working money circulate and money balances will stay necessary issues for traders.
