NEM Insurance boosts Half Year 2021 profit by 28.93% to N2.02bn

Adebayo Obajemu

NEM Insurance in its published its Second Quarter report for the period ended 30 June 2021 achieved significant growth in its top line and bottom line figures.

Gross Premium Written of N16.087 billion was reported for the six months period, up by 23.88% from N12.986 billion reported in Q2 2020.

The underwriting firm declared a profit after tax of N2.015 billion, up by 28.93% from N1.563 billion reported the previous year.

Earnings per share of the underwriting firm grew to 20 kobo from the EPS of 16 kobo achieved the previous year.

At the share price of N2.02, the P.E ratio of NEM Insurance stands at 10.06x with earnings yield of 9.94%.