‎NEM Insurance Plc has reinforced its position as one of Nigeria’s leading general insurers, following a strong third-quarter performance that saw its total assets climb to N165.46 billion as of September 30, 2025.
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The development reflects a significant increase from N121.93 billion recorded at the end of December 2024.
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The company’s unaudited financial statements for the period, released to the Nigerian Exchange Group (NGX), showed a resilient balance sheet supported by improved underwriting performance and a disciplined investment approach.
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According to the results, total liabilities rose to N84.49 billion in September 2025, up from N56.49 billion in December 2024, indicating growing business momentum and strengthened risk-bearing capacity. Shareholders’ equity also grew to N80.97 billion from N65.44 billion, highlighting increased value creation for investors.
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A review of the interim financials revealed substantial operational progress compared with the same period in 2024. Insurance revenue surged to N107.44 billion, up from N69.52 billion in Q3 2024 a robust 55 per cent increase. Net insurance and investment results also rose sharply to N30.39 billion from N20.92 billion, representing a 45 per cent growth.
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The insurer posted an insurance service result of N17.05 billion, compared with N18.44 billion in the previous year.
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However, profit before NITDA and taxation jumped to N23.77 billion from N15.71 billion, reflecting sustained profitability. Profit after tax stood at N20.51 billion, higher than the N13.56 billion recorded in Q3 2024.
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NEM Insurance also strengthened its claims-paying capacity, disbursing N30.54 billion in claims during the period under review a 105 per cent rise from N14.94 billion paid in the corresponding period of 2024.
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This, the company said, underscores its commitment to policyholder protection and prompt settlement of obligations.
‎With the strong outing in Q3 2025, NEM Insurance is now ranked number one among listed insurance companies on the NGX by insurance revenue.
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The company’s performance has also earned it industry recognition, including the award for Best General Insurance Company in Nigeria by Almond Communications.
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Market analysts have commended the insurer’s financial strength, attributing its consistent growth to robust corporate governance practices, prudent underwriting, and efficient claims management.
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They noted that the insurer’s steady profitability reflects its strategic investments in technology, a diversified investment portfolio, and customer-focused business model
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The management of NEM Insurance linked the performance to sustained operational discipline and ongoing innovation across its service lines, stating that the company remains well-positioned to deliver long-term value to shareholders and policyholders.
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With a strong capital base, a growing customer network, and rising investment income, NEM Insurance said it will continue to play a pivotal role in driving growth within Nigeria’s general insurance sector.