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NEM Insurance Forecasts ₦11.7 Billion Profit in Q1 2026 Amid Revenue Growth
Lagos, Nigeria – NEM Insurance Plc has projected a profit after tax of ₦11.71 billion for the first quarter of 2026, signaling continued growth despite rising operational costs. The company expects total insurance revenue to reach ₦65.26 billion, supported by an expanded asset base of approximately ₦177.3 billion. Profit before tax is forecast at ₦13.16 billion, reflecting management’s optimism about its earnings performance.
Analysts, however, note that this figure represents a slight decline compared to the ₦12.82 billion net profit reported in Q1 2025, citing higher claims and operational expenses as key factors limiting profit growth.
Investors have reacted positively to NEM’s outlook, with the company’s strong balance sheet and history of dividend payments boosting confidence in its 2026 targets. Nevertheless, challenges persist in the broader insurance sector, including foreign exchange volatility and rising costs, which have affected earnings in previous quarters.
Despite these pressures, NEM Insurance’s forecasted Q1 profit remains among the highest in the Nigerian insurance sector, surpassing projections from competitors and reinforcing its market position.
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