BY NKECHI NAECHE-ESEZOBOR-–Nigeria’s lead underwriter, NEM Insurance Plc has released its earnings forecast for the second quarter (Q2) ending 30 Jun 2021 to the Nigerian Stock Exchange (NSE).
According to the earnings forecast signed profit after tax is project to stand at N2.350 billion when compared to N1.706 billion projected for Q1 2021; indicating 37.75% growth.
The notice also shows that gross premiums written is projected at N16.320 billion as against N10.710 billion projection for Q1 2021.
We reported last month that the company’s full year 2020 profit rose by 71.72% to N4.084 billion from N2.378 billion in 2019.
Gross premiums written for the full year also rose to N22.036 billion from N19.760 billion in 2019.
While profit after tax for the Q4 ended 31, December 2020 also jumped up by 347%, from N663.414 million in Q4 2019 to
N2.967 billion.
