By InvestAdvocate

Lagos (INVESTADVOCATE)-Insurer, NEM Insurance Plc on Monday said its 2015 pretax profit for the period ended December 31, 2015 declined 66.10 percent to N598.83 million from N1.766 billion recorded a year ago.

Similarly, profit after tax (PAT) of the company dropped 53.21 percent to N713.70 from N1.525 billion reported the same period of 2014.

On the flipside, gross premium grew to N10.895 billion in 2015 end from N9.836 billion posted in 2014 audited year end; indicating a growth of 10.76 percent, the insurer said in a filing with the Nigerian Stock Exchange (NSE).

Shares of NEM insurance at the close of today’s trading on the Nigerian bourse appreciated 3.85 percent to 0.81 kobo from 0.78 kobo traded the last session; gaining 0.03 kobo per share.