2020 FY Results: NEM Insurance Plc reports a 112% increase in profit after tax.

NEM Insurance Plc released its full-year results for the year ended December 2020.

• Net premium income of N15.9 billion. (+25.7% YoY)
• Total claims paid during the year was N6.05 billion (+53.8% YoY)
• Underwriting profit of N5.98 billion. (+37.5% YoY)
• Profit after tax for the year was N5.08 billion. (+112.3% YoY)
• Earnings per share of 96 kobo Vs 45 kobo.
• The Shareholders’ fund of the company increased by 4.3 billion representing a 30.2% rise YoY.
• A final dividend of 9 kobo was proposed.

See link to results.