FY’18: Nem Insurance Plc reports 12.17% increase in revenue

Nem insurance Plc is once again consolidating on its impressive result, reporting a gross earning of N15.049 billion which is about 12% higher than N13.416 billion reported in same period 2017.

The company’s profit after tax (PAT) for the period under review stood at N2.047 billion which when compared with N2.775 billion reported last same period of 2017, there was a YnY decline of  26.22%.

The Underwriter’s shareholders’ earnings per share of N0.39 for the period under review when compared with N0.53 reported for the comparative period of 2017, it represents about 26% drop in EPS.

As Computed on April 26th, 2019 at a price last traded of N2.01Nem insurance’s PE Ratio stood at 5.18x with about 19% earnings yield.

NEM Insurance Plc (NEM) is engaged in general insurance business. The Company is into provision of non-life insurance services for both corporate and individual customers. The Company operates through two segments: Nem Insurance (Nigeria) Plc, and Nem Insurance (Ghana) Ltd. The Company’s products and services include fire/extraneous perils policy, consequential loss policy, burglary or housebreaking policy, fidelity guarantee policy, public liability policy, money policy, goods in transit policy, group personal accident policy, motor insurance policy, marine policies, aviation policy, financial risk management policy, machinery breakdown policy and electronic equipment policy. The Company provides oil and gas, and energy insurance in Nigeria with a focus on various areas, such as upstream risks, downstream risks, and power, solid mineral and other products, and it also provides risk management services.

The group declares a final dividend of 13 kobo per ordinary share, subject to appropriate withholding tax and approval will be paid to shareholders whose names appear in the Register of Members as at the close of business, date to be advised according to the corporate action released by the company’s management on 26th April, 2019

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