{
  "id": 17055983,
  "title": "NEM Insurance reports N31.02 billion pre-tax profit in 9M 2026, up 31%",
  "url": "https://urgent.news/2026/10/29/nem-insurance-reports-n31-02-billion-pre-tax-profit-in-9m-2026-up-31",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T11:49:29.000Z",
  "source": {
    "name": "Nairametrics",
    "slug": "nairametrics",
    "url": "https://nairametrics.com/2026/10/29/nem-insurance-reports-n31-02-billion-pre-tax-profit-in-9m-2026-up-31/"
  },
  "original_language": "en",
  "account": "NEM Insurance Plc reported a 30.54% surge in pre-tax profit to N31.02 billion for the nine months leading up to September 30, 2026, as compared to N23.77 billion during the same period in 2025. This impressive growth was driven by enhanced insurance operations and substantial investment returns. In their unaudited financial statements disclosed to the Nigerian Exchange (NGX) on October 29, 2026, the nine-month pre-tax profit had already surpassed the N27.98 billion earned in the full 2025 fiscal year. Despite higher reinsurance expenses, foreign exchange losses, and management costs, the company's earnings growth was bolstered by superior insurance service performance and substantial gains in the fair value of its investments. The rise in investment gains helped minimize the impact of increased reinsurance and foreign exchange costs, thus contributing to the uptick in pre-tax profit. NEM Insurance's total assets expanded by 14.35% to N204.22 billion, up from N178.59 billion at the end of December 2025, signifying growth in its investment portfolio. Nevertheless, the decline in cash balances and negative operating cash flow underscore the disparity between earnings growth and actual cash generation. As of the early trading session on October 29, 2026, NEM Insurance was valued at N27.50 per share, according to the provided market data. The company's capacity to maintain investment gains while simultaneously enhancing cash generation will be crucial for its earnings perspective in the final quarter of 2026. Nonetheless, the downturn in operating cash flow and cash reserves will remain critical factors for investors to monitor.",
  "summary": "NEM Insurance Plc recorded a 30.54% increase in pre-tax profit to N31.02 billion for the nine months ended September 30, 2026, compared with N23.77 billion in the corresponding period of 2025, supported by stronger insurance operations and investment gains. The post NEM Insurance reports N31.02 billion pre-tax profit in 9M 2026, up 31% appeared first on Nairametrics .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}