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 privatization 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 in 2007, 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 former subsidiary, NEM INSURANCE (GHANA) LIMITED in May, 2009. The subsidiary is now merged with Regency Alliance to form Regency Nem Insurance Ghana Ltd in September 2016 due to recapitalization requirement. A new member, NEM ASSET MANAGEMENT LIMITED was also added to the Brand earlier in March, 2016.
The Philosophy of the Company is centered on its Shareholders vision of making it a model of sound Insurance Practice for the Nation’s Insurance Industry and to participate actively in the economic development of the Country.
To achieve this noble vision, operations of the company has been innovated and characterised by:
- Prompt/efficient services to the public
- Prompt settlement of claims
- Marketing programme that will enable the public make an informed choice
- Innovative client relations programme
- Development of new products to meet the changing needs of the insuring public.
To build a customer satisfying Insurance institution that is passionate about adding value to the interests of all stakeholders.
To be the preferred choice of the insuring public