NEM record Profit increase by 71.72% in 2020

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NEM Insurance Plc recorded profit for 2020 rose to N4.084 billion from N2.378 billion in 2019 representing 71.72 percent be increase.

The company released its interim financial statement for the fourth quarter (Q4) ended December 31, 2020 with its  profit after tax jumped by 347 percent in Q4 2020 to N2.967 billion from N663.414 million in Q4 2019.

Its gross premiums written dropping slightly to N3.267 billion in Q4 2020 from N3.355 billion in 2019.

The gross premiums written for the full year rose to N22.036 billion from N19.760 billion in 2019.

The insurer improved on the profit after tax jumped by 347 percent in Q4 2020 to N2.967 billion from N663.414 million in Q4 2019

 

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