International Energy Insurance Plc (IEI) has projected a profit after tax of N1.13 billion for the second quarter of 2026, according to its earnings forecast submitted to the Nigerian Exchange Group (NGX).
In its projection dated March 2, 2026, the insurer said it expects gross premium written to rise to N5.99 billion during the period, reflecting anticipated growth in business volumes.
The company also forecast an insurance service result of N3.35 billion, signaling stronger underwriting performance and improved operational efficiency. Operating profit is projected at N838.43 million, while interest and similar income are expected to contribute N773.99 million.
Based on these estimates, IEI anticipates profit before tax of N1.61 billion. After providing for a projected tax expense of N483.73 million, the insurer expects to close the quarter with a net profit of N1.13 billion.
Management said the forecast is underpinned by assumptions about macroeconomic stability and business conditions in 2026. The company expects no significant adverse policy changes from government that could disrupt the insurance sector during the period.
IEI also assumes continued stability within its management team to ensure strategic and operational continuity. In addition, the outlook factors in the absence of major uninsured risks or catastrophic claims that could materially affect performance.
The insurer said sustaining customer confidence and loyalty remains central to achieving its premium growth targets.
Industry-wide enforcement of compulsory “Building Under Construction” and “Public Building” insurance policies is also expected to bolster revenue generation. Furthermore, the continued implementation of the “No Premium, No Cover” directive by the National Insurance Commission (NAICOM), which mandates full premium payment before coverage takes effect, is projected to support earnings quality and cash flow stability.
