NEM Insurance Shareholders Approve N7.5bn Dividend Payout for 2025FY

Kayode Tokede 

The shareholders of NEM Insurance Plc, yesterday at the company’s 56th Annual  General  Meeting (AGM) held in Lagos approved the management’s N7.5 billion dividend payout for its 2025 financial year.  

The board had  recommended a dividend of N1.50 kobo per N1 ordinary shares,  mounting to N7.5 billion payable to shareholders and subject to deduction of  withholding tax at the appropriate rate.

The shareholders also approved other key resolutions presented  at the annual meeting.

Speaking to shareholders,   the  Group Chairman, NEM Insurance, Mr. Tope Smart, noted that the company in 2025  performed excellently well amid local and foreign challenges.  

He expressed that  despite challenges, the company maintained its leadership position in general business. 

“To draw home this point, our Group recorded N166.8 billion gross premium income while the parent company recorded N157.8 billion during the year under review, as against N110.7 billion and N108.3 billion for group and parent respectively in 2024. 

“Though profit after tax declined from N29 billion in 2024 to N24 billion during the year under review, this was due to foreign exchange losses we experienced during the period,” he said. 

He stated that the  Group’s Profit before Tax (PBT) was N27.9billion and N33.6billion in 2024, a decrease of 17per cent because of the fluctuation in foreign exchange gain.

He added that the  position of the Group’s Financial assets between 2025 and 2024 increased by 38per cent while Total Assets and Total Equity also improved by 49.8per cent and 29per cent respectively.

According to him, the 2025 financial year’s excellent performance is expected to be sustained with the right form of support from all stakeholders, expectations from the government at all levels and other concerned parties to improve the security architecture in Nigeria, tackle unemployment, diversify the economy, enhance climate resilience, and boost the living standard of citizens. 

Smart revealed that its subsidiaries, NEM Asset Management Company Limited and NEM Health Limited did quite well during the year under review and both contributed to the bottom line.

According to him, the   insurance revenue grew from N97.9 billion in 2024 to N152.3billion in 2025, an increase of 56 per cent over the previous year.

He noted that an increase of 70 per cent was recorded in 2025 against 130.3per cent achieved in 2024. The total investment income in 2025 was N12.9billion while that of 2024 was N7.6billion 

He also revealed that the claims paid during the year was N49.8billin against N31.3billion in 2024 as the claims ratio for 2025 was 29.8per cent as against 28 per cent in 2024.  

On future prospects, he said, “ As part of our expansion strategy, our plan to set up a viable life assurance company is in progress and will be unveiled soon.”