Nem Insurance Posts N18.8bn Gross Premium in Q3’20

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

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

With about 5bn share outstanding, the Shareholders’ earnings per share dropped by 45% from N0.39 of the corresponding period in 2019 to N0.21 in the current period under review.

At a reference price of N2.23, as the released date, the Insurance company’s PE Ratio stood at 10.55x with earnings yield of 9.48%.

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