NEM Insurance Record Profit Growth Of 71.72% FY2020, As Q4 Profit Jumps To N2.967bn

BY NKECHI NAECHE-ESEZOBOR–NEM Insurance Plc has said that its full year 2020 profit rose by 71.72% to N4.084 billion from N2.378 billion in 2019.

This is contained in a notice to the Nigerian Stock Exchange that its gross premiums written for the full year 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.

However, gross premiums written dropped to N3.267 billion in Q4 2020 from N3.355 billion in 2019.