BY NKECHI NAECHE-ESEZOBOR—NEM Insurance Plc has further reinforced confidence among its policyholders following the payment of N45.91 billion in claims during the 2025 financial year.
The figure, disclosed in the company’s audited results for the year ended December 31, 2025, highlights the insurer’s continued commitment to meeting obligations promptly and maintaining strong operational credibility within Nigeria’s insurance industry.
The 2025 claims payout represents a substantial rise from the N24.99 billion paid in the 2024 financial year, highlighting the Group’s growing commitment to meeting its obligations to policyholders and strengthening trust in its operations.
Figures obtained from the NGX showed the parent company paid N41.46bn in 2025 from N24.24bn in 2024.
Industry observers note that timely and efficient claims settlement remains a critical factor in driving insurance penetration in Nigeria.
With its strong capital base, expanding customer network, and increasing investment income, NEM Insurance Plc is well-positioned to deliver sustainable value to both shareholders and policyholders, while contributing to the growth of the insurance sector.
The company’s latest performance further underscores its standing among insurers with strong claims-paying capacity, a key indicator of financial stability and operational reliability in the industry.
GCR Ratings had upgraded NEM Insurance Plc’s national scale financial strength rating to AA+(NG) from AA(NG), with the outlook maintained as stable.
According to the rating agency, the upgrade reflects sustained strengthening in the company’s competitive position within the non-life insurance segment, supported by a sound financial profile characterised by robust risk-adjusted capitalisation, adequate liquidity, and strong earnings capacity.
The combination of increased claims payout and improved credit rating positions NEM Insurance Plc as a leading player in Nigeria’s insurance industry, capable of meeting rising customer expectations while sustaining long-term growth.
