NEM Insurance Plc has reported strong balance sheet growth for the financial year ended December 31, 2025. The insurer said total group assets rose to N186.04 billion in 2025, up from N124.23 billion in 2024, while group liabilities also increased, rising to N101.58 billion from N58.79 billion the previous year.

Yet, profit before tax fell to N27.98 billion from N33.7 billion in 2024, while profit after tax also declined to N23.9 billion from N29.24 billion in the previous year.

Liabilities increased to N94.59 billion, up from N56.49 billion a year earlier. Revenue at the parent company rose to N165.72 billion from N119.88 billion. The company attributed the increase to stronger underwriting activities and growing financial obligations across its operations.

In a statement on Monday, the company described the performance as a reflection of sustained expansion. At the parent company level, the insurer recorded significant balance sheet growth, with total assets rising to N178.59 billion from N121.93 billion in 2024.

The statement noted that, at the group level, total assets rose significantly by N61.81 billion to N186.04 billion in 2025, reflecting the company’s continued expansion and strengthened investment base.

Total equity climbed to N84.46 billion, up from N65.44 billion in 2024. The growth, according to the insurer, reflects improved shareholder value and stronger capital positioning, according to NEM.

Group revenue also posted significant growth, rising to N173.04 billion from N121.6 billion.

The company said improved premium generation and stronger investment returns supported the revenue expansion. Despite stronger earnings growth, profitability declined during the review period.

The company said the growth reflected sustained business expansion and improved operational performance.

However, parent company profitability also moderated during the year. Profit before tax declined to N27.56 billion from N33.52 billion in 2024. Profit after tax dropped to N23.55 billion from N29.08 billion in the corresponding period.

Commenting on the results, the company said, “The performance demonstrates resilience and strong market positioning.”

It added that revenue growth and asset expansion were achieved despite economic and industry pressures. The insurer reaffirmed its commitment to delivering shareholder value and strengthening underwriting capacity.

It also pledged to sustain growth through innovation and customer-focused insurance solutions.

(NAN)