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%.