BY NKECHI NAECHE- ESEZOBOR— NEM Insurance Plc, a leading general insurance services provider in Nigeria, has paid a total of N23 billion as claims to policyholders at the end of 2024 financial year.
According to statement released by the company, its insurance revenue grew to N108billion, this the company said reflects commitment to strategic growth and solidifies its doggedness in the insurance market.
Despite the challenging operational environment in 2024, the insurer was able to grow its profit margin in excess of N20 billion and a formidable balance sheet size of over N100billion.
ALSO READ: NEM INSURANCE : Investors’ Delight
Looking forward, NEM promise to deliver value to all stakeholders.
The company said: “We are upscaling our collaborations and partnerships, our strategic investments in capacity building, among others, positions us to meet the emerging needs of all our customers. Our philosophy is centred on our stakeholders vision of making the company a model of sound insurance practice for the Nation’s insurance industry and participate actively in the economic development of Nigeria”.
About NEM Insurance Plc
NEM Insurance Plc started insurance business in Nigeria in 1948 through the agency of Edward Turner & Co. It became a Nigerian branch of NEM General Insurance Association Limited of London in 1965 and incorporated in 1970 as a Nigerian company in compliance with the Companies Decree of 1968.
