Corporate Information
CORPORATE INFORMATION
NEM INSURANCE PLC started insurance business in Nigeria in 1948 through the agency of Edward Turner & Co. It became a Nigerian branch of NEM General Insurance Association Limited of London in 1965. Incorporated in 1970 as a Nigerian company in compliance with the Companies Decree of 1968, the company became quoted on the Nigerian Stock Exchange in 1989 following the privatisation by the Federal Government of Nigeria. The company, which has contributed immensely towards the growth of Insurance Industry in Nigeria, was into Life and Non- Life business. Following the recapitalization exercise, the company merged with Vigilant Insurance Company Ltd to transact all classes of General Insurance.
The company has expanded its operations into the West African Sub region, with the successful registration and commencement of business of its subsidiary, NEM INSURANCE (GHANA) LIMITED in May 2009.
SHARE CAPITAL AS AT 2009
Authorized share capital: N4.2 billion
Paid Up Capital N2.6 billion
Shareholders’ Fund N5.9 billion
MISSION STATEMENT
To build a customer satisfying insurance institution that is passionate about adding value to the interests of all stakeholders.
CORPORATE CORE VALUES
· INTEGRITY
· EXCELLENCE
· EMPATHY
· HUMILITY
· DISCIPLINE
REINSURANCE TREATIES
The Company has Treaty Reinsurance arrangements with African Reinsurance Corporation, Continental Reinsurance Company, WAICA Reinsurance Pool & Nigeria Reinsurance Corporation.
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