NEM Insurance consolidates market leadership as assets surge to N165.46bn in Q3 2025
NEM Insurance Plc
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NEM Insurance Plc has maintained its impressive growth trajectory, reaffirming its position as one of Nigeria’s foremost general insurance companies, as total assets climbed to ₦165.46 billion as of September 30, 2025, up from ₦121.93 billion recorded at the end of December 2024.
The company’s unaudited financial statements for the third quarter of 2025, released to the Nigerian Exchange Group (NGX) showed a solid balance sheet expansion driven by improved underwriting performance and sound investment strategies.
Total liabilities rose to ₦84.49 billion in September 2025 from ₦56.49 billion in December 2024, reflecting increasing business activities and strong risk-bearing capacity. Likewise, total equity grew to ₦80.97 billion from ₦65.44 billion, underscoring enhanced shareholders’ value.
A review of the company’s Interim Financial Statement for Q3 2025 revealed remarkable operational progress compared to the same period in 2024. Insurance revenue jumped to ₦107.44 billion, from ₦69.52 billion in Q3 2024, representing a robust 55% increase.
In addition, net insurance and investment results surged to ₦30.39 billion from ₦20.92 billion recorded in the same quarter of 2024, reflecting a strong 45% growth. The insurer also reported an insurance service result of ₦17.05 billion compared to ₦18.44 billion in the previous year, while profit before NITDA and taxation rose to ₦23.77 billion from ₦15.71 billion, signaling consistent profitability.
The company’s profit after tax for the period stood at ₦20.51 billion, from ₦13.56 billion achieved in Q3 2024, a clear demonstration of NEM’s resilience, operational efficiency, and disciplined financial management.
Claims of N30.54bn was paid as of Q3 2025, a rise of 105 per cent from N14.94bn paid as of the same period of 2024. This confirmed the company’s commitment to fulfilling its obligations to its esteemed customers.
With the feat in Q3 2025, NEM Insurance Plc is now rated number one among the listed insurance companies on the NGX by insurance revenue in Nigeria in the period under review.
The performance also confirmed its leadership with recognition award as Best General Insurance Company in Nigeria by Almond Communications
Market analysts have commended the insurer’s strong financial strength, describing it as evidence of robust corporate governance, prudent underwriting, and effective claims management.
They noted that NEM Insurance’s consistent profitability reflects its strategic focus on technology-driven service delivery, diversified investment portfolio, and customer-centric approach.
NEM Insurance’s management attributed the performance to ongoing strategic investments, operational discipline, and innovations that continue to reinforce its position as a leader in Nigeria’s general insurance market.
With a strong capital base, expanding customer network, and growing investment income, NEM Insurance remains well-positioned to deliver sustainable value to shareholders and policyholders while driving industry growth.
