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Nigerian insurer's premiums rise 6%

Posted On: Sep. 1, 2020 9:07 AM CST

Nigeria-based NEM Insurance PLC's gross written premiums increased 6% year-over-year to 11.2 billion Nigerian naira ($29 million) in the first six months of 2020, Naija 247 News reported. Marine insurance premiums grew nearly 52%, oil and gas premiums rose more than 7.5%, while fire premiums fell around 25%. Net profit declined more than 3% to nearly NGN 1.6 billion.

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