NEM Insurance Records Major Asset Growth
NEM Insurance Plc has reported strong financial growth for the 2025 business year, with total group assets rising to N186.04bn.
The company disclosed this in its audited financial results for the year ended December 31, 2025.
According to the report, total assets increased by N61.81bn compared to N124.23bn recorded in 2024.
The performance highlights the company’s expanding investment portfolio and stronger market position within Nigeria’s insurance industry.
Revenue Rises Sharply in 2025
In addition, the group recorded significant revenue growth during the period.
Total revenue climbed to N173.04bn in 2025 from N121.6bn in the previous year.
The company attributed the increase to stronger premium income and improved investment returns.
Furthermore, total equity rose from N65.44bn in 2024 to N84.46bn in 2025, reflecting improved shareholder value.
Group liabilities also increased to N101.58bn from N58.79bn due to higher underwriting activities and expanding business operations.
Profit Declines Despite Growth
However, despite strong revenue and asset expansion, profitability declined during the financial year.
Profit Before Tax dropped to N27.98bn from N33.7bn recorded in 2024.
Similarly, Profit After Tax fell to N23.9bn compared to N29.24bn in the previous year.
The company linked the decline to prevailing economic pressures and industry-related challenges that affected profit margins.
Parent Company Posts Similar Performance
At the parent company level, NEM Insurance also posted impressive balance sheet growth.
Total assets increased to N178.59bn in 2025 from N121.93bn in 2024.
Meanwhile, liabilities rose to N94.59bn from N56.49bn during the same period.
Revenue also improved significantly, reaching N165.72bn compared to N119.88bn recorded a year earlier.
However, Profit Before Tax declined to N27.56bn from N33.52bn, while Profit After Tax dropped to N23.55bn from N29.08bn.
Company Reaffirms Growth Commitment
Despite the lower profit figures, the company expressed confidence in its long-term growth strategy.
NEM Insurance stated that the results demonstrated resilience, strong operational capacity, and sustained market expansion.
The company also reaffirmed its commitment to delivering value to shareholders through innovation, stronger underwriting capacity, and customer-focused insurance services.
Furthermore, management pledged to sustain growth while adapting to changing economic and industry conditions.
