NEM Insurance Plc

Adebayo Obajemu

NEM Insurance has said it is targeting to achieve N10.71bn Gross Written Premium
for the first quarter of 2021.

Its projection for profit before tax is N2.007 billion and N1.706 billion is projected for profit after tax during the period.

The third quarter financial report of NEM Insurance Plc for the period ended September 30th, 2020 reveals that the group grew its gross premium written by 14.41%, closing the period at N18.769 billion above the previous close of N16.405 billion in 2019.

The Profit after Tax (PAT) in Q3’20 was N1.117 billion, down by 45.29% from N2.041bn recorded in Q3’19.

The share price of NEM Insurance is currently trading at N2.45 with a year high of N2.60 and a year low of N1.44. It is trading 5.77% away from its year high of N2.60