NEM Insurance Plc touched down on the runway to mark the end of 2025 performance with an insurance revenue of N152.9bn, 56% improvement on 2024 revenue which stood at N97.9bn. The broad span improvement also reflected in the 70% rise in investment income, from prior N7.6bn to N12.9bn.
This was disclosed by the Board Chairman, Tope Smart at the 56th annual general meeting held today in Lagos, who stated that profit before tax was N27.9bn, at the same period maintaining a strong financial position as financial assets increased by 38%, while total assets and total equity rose by 49.8% and 29% respectively.
The obligations to claims settlement increased to N49.8 bn in 2025 from prior N31.3 bn, reflecting the company’s commitment to meeting obligations to policyholders promptly.
He cleared that the company’s subsidiaries, NEM Asset Management Company Limited and NEM Health Limited, were active players in the group’ positive result, stating that the Group recorded a profit before tax of N27.9 bn.
At the meeting shareholders received a N7.52 bn dividend payout for the 2025 this translates to a dividend of N1.50 per ordinary share. Shareholders at the meeting expressed satisfaction with the company’s consistent returns and resilient performance despite the challenging business environment, noting that the dividend demonstrated management’s commitment to rewarding investors.
Speaking on the company’s performance, Smart disclosed that insurance revenue grew by 56 percent from N97.9 billion in 2024 to N152.3 billion in 2025, while Investment income also rose significantly by 70 percent to N12.9 billion from N7.6 billion recorded in the previous year.
He added that the company’s subsidiaries, NEM Asset Management Company Limited and NEM Health Limited, did quite well and made positive contributions to the Group’s earnings during the year under review.
As part of its expansion drive, Smart said that plan to establish a life assurance company was at an advanced stage and would soon be unveiled.
Also speaking at the AGM, the Managing Director of NEM Insurance Plc, Andrew Ikekhua, said the company’s balance sheet remained robust, reflecting strong capitalisation and preparedness to operate effectively under the new regulatory capital regime introduced by the Nigerian Insurance Industry Reform Act 2025.
He noted that the company also received several awards and recognitions in 2025, including Best General Insurance Company of the Year; Outstanding Performance in Claims Settlement Award by Risk Analyst; and the Pearl Award in the Financial Services (Insurance Sector) for the year 2025.
Featured Picture:L-R: Idowu Semowo, Executive Director, Finance and Investment, NEM Insurance Plc; Ifunanya Iwuagwu, Company Secretary/Legal Adviser; Andrew Ikekhua, Managing Director/CEO, NEM Insurance Plc; Tope Smart, Group Chairman, during the 56th annual general meeting of NEM Insurance Plc held in Lagos on Thursday 14-5-2026
