IEI Projects ₦868.5 Million Q1 2026 Profit on Strengthened Premium Performance
In a fresh disclosure to the stock market, International Energy Insurance Plc (IEI) has projected a profit after tax of ₦868.48 million for the first quarter (Q1) of 2026, buoyed by healthier premium inflows and a sharper underwriting performance.
According to the company’s projection, gross premiums written (GPW) for the quarter are expected to hit ₦3.76 billion, while its Insurance Service Result — a key indicator of underwriting profitability — is forecast at ₦2.71 billion.
Operating profit is estimated at ₦809.38 million, with interest and other income contributing another ₦486.35 million, driving earnings before tax to about ₦1.29 billion.
IEI’s forecast signals a rebound compared with its Q1 2025 profit after tax of ₦648.7 million — a sign of management’s confidence in recovering profitability.
The optimism partly reflects broader positive momentum in Nigeria’s insurance sector.
In 2024, the industry recorded a gross written premium of ₦1.562 trillion — a 56 % increase over 2023 — underscoring growing demand in both life and non-life insurance segments.
Management, however, cautioned that the forecast assumes a stable operating environment, without major uninsured risks or regulatory disruptions.
If IEI delivers on its guidance, Q1 2026 could mark a notable turnaround and a strong financial footing heading, offering shareholders renewed confidence in the company’s ability to capitalize on favourable market conditions and strengthened underwriting discipline.
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