NEM Insurance plc, in the second quarter of 2025 posted N75.41 billion insurance revenue thus occupying strategic position as one of the top three insurers with highest premium generating record.

The company’s financial performance for the second quarter ended June 30, 2025, showed a significant growth from N45.47 billion it recorded in the corresponding period last year.

The company’s Managing Director, Mr. Andrew Ikekhua, said the firm’s strong financial statement in Q2, 2025, revealed her strong capital that significantly exceeded the Minimum Capital Requirement (MCR) in line with the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

He said the good financial standing has positioned the company to play big in general insurance market in the new capital regime which starts in less than 12 months from now.

NEM Insurance Profit Before Tax (PBT) as at half year was N17.94 billion, compared to N12.21 billion in the prior year and Profit after tax for the period was N15.48 billion, compared to N10.63billion in the prior year.

The underwriting firm reported total assets of N159.90 billion as of 30th June 2025, compared to N121.93 billion of 31st December 2024. Total liabilities stood at N83.97 billion, up from N56.49 billion in the previous period. Equity increased to N75.93 billion from N65.44 billion.

Net cash inflow from operating activities was N8.78 billion, compared to N12.94 billion in the same period last year. Investing activities resulted in a net cash outflow of N4.46 billion, while financing activities led to a net cash outflow of N5.28 billion. The company’s cash and cash equivalents at the end of the quarter were N11.82 billion.

Share capital remained unchanged at N5.02 billion. The statutory contingency reserve increased to N18.75 billion. Retained earnings grew to ₦49.40 billion and the asset revaluation reserve remained at N2.79 billion.

The company’s outstanding performance recently earned the Managing Director    recognition among the Top 25 Chief Executive Officers (CEOs) in Nigeria.