EARNINGS ALERT – Wednesday, 4th April, 2018

NEM INSURANCE PLC released its audited FY 17 results with EPS of N0.53 (N0.34 in 2016) declaring a dividend of 10kobo per share. Please find attached the full result of NEM INSURANCE PLC as released on the NSE and see key highlights below:

  • Gross premium increased  by 24.72% to N13.42bn in 2017 (N10.75bn in 2016).
  • Reinsurance expenses increased significantly by 52.67% to N3.22bn in 2017 (N2.11bn in 2016) just as claims expenses was down by 33.2% to N1.78bn in 2017 (N2.67bn in 2016)
  • Underwriting profit increased by 31.32 percent to N4.51 billion in December 2017 when compared with N3.43bn in December 2016.
  • Investment income jumped to N709mn in 2017 from N479mn in 2016

Corporate Action
Proposed Dividend                   10 kobo
Qualification date                      Yet to be announced
AGM Date                                    Yet to be announced
Payment Date                              Yet to be announced

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