NEM Insurance Establishes Life, Health Management Firms

The on going expansion strategy adopted by NEM Insurance plc has culmination in the company’s establishment of a health management organisation and plan for a establishment of life insurance firm.

The company’s Chairman Dr. Fidelis Ayebae, disclosed this at the 53rd Annual General Meeting (AGM) of the firm in Lagos, adding that the expansion strategy, led to the establishment of NEM Health Limited, which was incorporated in 2022 and commenced operation in 2023.

Ayebae noted that at the meeting, the company’s board had recommended a dividend of 30 kobo per N1 ordinary shares amounting to N1,504 943,330, payable to shareholders subject to deduction of withholding tax at the appropriate rate.

He stated that in line with the companys policy of enhancing the knowledge of members of staff and improving their skills on the job, the management sent over 90 per cent of the staff on various trainings, workshops and conferences during the year under review.

He said good working tools and working environment were also provided for better performances and that deserving, members of staff were promoted during the year.

He also informed the meeting that two executive directors of the company retired in 2022 after a meritorious services in the company.

“Its pertinent to appreciate two executive directors that retired in 2022 after decades of meritorious service to our great company, they are Messrs. Adebayo S.J and Odamah M.A., wishing the duo brilliant success in their future endeavors.

“We give glory to Almighty God who has consistently been our guide and helper.

Our excellent progressive performances have been commendable. Hence, I want to use this opportunity to appreciate the GMD/CEO, management and members of staff, who have been so dedicated, hardworking and focused in achieving the set goals. Also, the commitment and cooperation of the Board members are highly appreciated,” he said.