NEM Insurance Targets N7.1bn Profit in Q1-2025
NEM Insurance Plc has estimated N7.157 billion as profit in the first quarter of 2025, details from its earnings forecast revealed.
The insurance company listed on the Nigerian Exchange estimated revenue to print at N40.651 billion in the first three months in financial year 2025.
With insurance expenses projected to cross N27 billion, in addition to net expenses on re-insurance contracts of more than N2.5 billion, the company is targeting insurance results totaling N10.687 billion between January and March 2025.
NEM Insurance dividend income and FX gain expectation is expected to provide some sort of relief for projected fair value loss of about N300 million.
The management forecasted operating expenses to settle at about N3.5 billion in the period. This, in addition, to impairment charges and about N60 million in finance costs left the Insurance company with N8.32 billion pretax profit in Q1.
Net income is projected to settle at N7.157 billion following about N1.17 billion income tax expenses estimated for the period. #NEM Insurance Targets N7.1bn Profit in Q1-202#
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